Atticus Wealth Management LLC Reduces Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Atticus Wealth Management LLC lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 49.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 946 shares of the company’s stock after selling 919 shares during the period. Atticus Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $81,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Xponance Inc. raised its holdings in shares of Novo Nordisk A/S by 27.6% in the 2nd quarter. Xponance Inc. now owns 2,665 shares of the company’s stock valued at $380,000 after acquiring an additional 576 shares in the last quarter. AQR Capital Management LLC raised its stake in Novo Nordisk A/S by 110.5% in the second quarter. AQR Capital Management LLC now owns 17,164 shares of the company’s stock valued at $2,450,000 after purchasing an additional 9,012 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Novo Nordisk A/S by 2.2% during the second quarter. The Manufacturers Life Insurance Company now owns 131,876 shares of the company’s stock valued at $18,824,000 after purchasing an additional 2,817 shares during the last quarter. Scientech Research LLC bought a new position in shares of Novo Nordisk A/S in the 2nd quarter worth $467,000. Finally, Ascent Group LLC raised its position in shares of Novo Nordisk A/S by 19.1% during the 2nd quarter. Ascent Group LLC now owns 22,869 shares of the company’s stock valued at $3,264,000 after buying an additional 3,670 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Up 8.4 %

NYSE:NVO opened at $87.94 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75. The firm’s 50-day moving average price is $95.35 and its 200-day moving average price is $114.99. The company has a market capitalization of $394.65 billion, a PE ratio of 28.46, a P/E/G ratio of 0.90 and a beta of 0.45. Novo Nordisk A/S has a 1-year low of $78.17 and a 1-year high of $148.15.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. BMO Capital Markets decreased their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $145.25.

Novo Nordisk A/S Company 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.