Webster Bank N. A. Cuts Stake in Novo Nordisk A/S (NYSE:NVO)
Webster Bank N. A. cut its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 29.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 17,060 shares of the company’s stock after selling 7,045 shares during the period. Webster Bank N. A.’s holdings in Novo Nordisk A/S were worth $731,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. Proficio Capital Partners LLC raised its stake in Novo Nordisk A/S by 155.6% in the first quarter. Proficio Capital Partners LLC now owns 2,472 shares of the company’s stock valued at $103,000 after buying an additional 1,505 shares during the period. Perigon Wealth Management LLC bought a new stake in Novo Nordisk A/S during the fourth quarter worth about $105,000. Tower Research Capital LLC TRC boosted its position in Novo Nordisk A/S by 167.8% in the first quarter. Tower Research Capital LLC TRC now owns 3,061 shares of the company’s stock worth $105,000 after buying an additional 1,918 shares during the period. Parallel Advisors LLC boosted its position in Novo Nordisk A/S by 120.3% in the first quarter. Parallel Advisors LLC now owns 2,844 shares of the company’s stock worth $117,000 after buying an additional 1,553 shares during the period. Finally, Advisory Services Network LLC purchased a new position in Novo Nordisk A/S during the first quarter worth approximately $127,000. 6.39% of the stock is owned by institutional investors and hedge funds.
Shares of Novo Nordisk A/S (NVO) traded down 1.01% during midday trading on Friday, reaching $42.06. 911,001 shares of the company were exchanged. Novo Nordisk A/S has a 52-week low of $30.89 and a 52-week high of $50.30. The stock has a market capitalization of $104.97 billion, a price-to-earnings ratio of 17.58 and a beta of 0.63. The company’s 50-day moving average price is $42.86 and its 200 day moving average price is $38.45.
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A number of research firms have commented on NVO. BidaskClub upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Zacks Investment Research upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Wednesday, June 21st. Finally, TheStreet raised Novo Nordisk A/S from a “c+” rating to a “b-” rating in a report on Tuesday, May 2nd. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $53.00.
Novo Nordisk A/S Company Profile
Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company’s diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs.
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