US Bancorp DE Has $9,571,000 Position in Novo Nordisk A/S (NVO)
US Bancorp DE reduced its position in shares of Novo Nordisk A/S (NYSE:NVO) by 1.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 230,147 shares of the company’s stock after selling 3,149 shares during the period. US Bancorp DE’s holdings in Novo Nordisk A/S were worth $9,571,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Saratoga Research & Investment Management increased its position in Novo Nordisk A/S by 5.8% in the second quarter. Saratoga Research & Investment Management now owns 797,432 shares of the company’s stock worth $42,886,000 after buying an additional 43,556 shares during the period. Ngam Advisors L.P. increased its position in Novo Nordisk A/S by 2.1% in the second quarter. Ngam Advisors L.P. now owns 902,947 shares of the company’s stock worth $48,561,000 after buying an additional 18,189 shares during the period. Princeton Alpha Management LP bought a new position in Novo Nordisk A/S during the second quarter worth approximately $407,000. Smithbridge Asset Management Inc. DE increased its position in Novo Nordisk A/S by 37.6% in the third quarter. Smithbridge Asset Management Inc. DE now owns 48,717 shares of the company’s stock worth $2,026,000 after buying an additional 13,313 shares during the period. Finally, Stock Yards Bank & Trust Co. increased its position in Novo Nordisk A/S by 0.6% in the third quarter. Stock Yards Bank & Trust Co. now owns 245,000 shares of the company’s stock worth $10,189,000 after buying an additional 1,579 shares during the period. 7.34% of the stock is owned by institutional investors and hedge funds.
Novo Nordisk A/S (NYSE:NVO) traded up 2.613% on Wednesday, hitting $33.575. The stock had a trading volume of 6,060,275 shares. Novo Nordisk A/S has a 1-year low of $30.89 and a 1-year high of $59.00. The stock has a market capitalization of $84.83 billion, a price-to-earnings ratio of 16.019 and a beta of 0.84. The company has a 50-day moving average price of $36.33 and a 200-day moving average price of $47.04.
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A number of research analysts recently commented on NVO shares. Piper Jaffray Cos. started coverage on Novo Nordisk A/S in a research note on Friday, September 23rd. They issued a “neutral” rating for the company. Zacks Investment Research downgraded Novo Nordisk A/S from a “hold” rating to a “sell” rating in a research note on Tuesday, September 6th. HSBC reaffirmed a “hold” rating on shares of Novo Nordisk A/S in a research note on Thursday, October 13th. Morgan Stanley downgraded Novo Nordisk A/S from an “overweight” rating to an “equal weight” rating in a research note on Thursday, September 1st. Finally, TheStreet downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Friday, November 11th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $61.33.
About Novo Nordisk A/S
Novo Nordisk A/S is a healthcare company. The Company is engaged in discovery, development, manufacturing and marketing of pharmaceutical products. The Company’s business segments include diabetes and obesity care, and biopharmaceuticals. The diabetes and obesity care segment covers insulins, glucagon-like peptide-1 (GLP-1), other protein-related products (such as glucagon, protein-related delivery systems and needles), oral anti-diabetic drugs and obesity.
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