Highline Wealth Partners LLC Reduces Position in Novo Nordisk A/S (NYSE:NVO)

Highline Wealth Partners LLC reduced its stake in Novo Nordisk A/S (NYSE:NVO) by 75.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 583 shares of the company’s stock after selling 1,810 shares during the quarter. Highline Wealth Partners LLC’s holdings in Novo Nordisk A/S were worth $50,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its position in shares of Novo Nordisk A/S by 1.4% in the second quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock valued at $607,242,000 after buying an additional 58,935 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Novo Nordisk A/S by 1.0% during the 3rd quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock worth $419,939,000 after purchasing an additional 36,223 shares during the period. Natixis Advisors LLC boosted its holdings in shares of Novo Nordisk A/S by 2.7% during the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after purchasing an additional 80,070 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Novo Nordisk A/S by 10,608.4% in the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after purchasing an additional 1,796,635 shares during the period. Finally, DSM Capital Partners LLC increased its stake in Novo Nordisk A/S by 257,816.0% in the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after purchasing an additional 1,593,303 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Up 0.7 %

NVO stock traded up $0.64 during midday trading on Friday, hitting $86.28. 3,781,885 shares of the company’s stock were exchanged, compared to its average volume of 6,892,598. The firm has a 50 day moving average price of $100.86 and a 200-day moving average price of $119.79. Novo Nordisk A/S has a 12-month low of $81.50 and a 12-month high of $148.15. The stock has a market capitalization of $387.18 billion, a price-to-earnings ratio of 27.92, a price-to-earnings-growth ratio of 1.37 and a beta of 0.45. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43.

Wall Street Analysts Forecast Growth

NVO has been the subject of a number of research analyst reports. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday. BMO Capital Markets reduced their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Finally, StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $140.20.

Novo Nordisk A/S Profile

Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally. It operates in two segments, Diabetes and Obesity Care, and Rare Disease.