Novo Nordisk A/S (NVO) Shares Sold by Russell Investments Group Ltd.
Russell Investments Group Ltd. reduced its position in shares of Novo Nordisk A/S (NYSE:NVO) by 12.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 616,002 shares of the company’s stock after selling 87,821 shares during the period. Russell Investments Group Ltd.’s holdings in Novo Nordisk A/S were worth $26,420,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Howland Capital Management LLC bought a new stake in shares of Novo Nordisk A/S during the first quarter worth $266,000. Cim LLC raised its stake in shares of Novo Nordisk A/S by 0.5% in the first quarter. Cim LLC now owns 196,121 shares of the company’s stock worth $6,723,000 after buying an additional 1,045 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Novo Nordisk A/S during the first quarter worth $449,000. Baldwin Brothers Inc. MA raised its stake in shares of Novo Nordisk A/S by 54.9% in the first quarter. Baldwin Brothers Inc. MA now owns 21,936 shares of the company’s stock worth $752,000 after buying an additional 7,778 shares in the last quarter. Finally, TNB Financial bought a new stake in shares of Novo Nordisk A/S during the first quarter worth $2,628,000. Hedge funds and other institutional investors own 6.39% of the company’s stock.
Shares of Novo Nordisk A/S (NVO) traded down 1.01% during trading on Friday, hitting $42.06. 530,681 shares of the stock were exchanged. Novo Nordisk A/S has a 52 week low of $30.89 and a 52 week high of $55.45. The firm has a market capitalization of $104.97 billion, a price-to-earnings ratio of 17.58 and a beta of 0.63. The stock’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 analysts have weighed in on the stock. BidaskClub upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Zacks Investment Research upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Wednesday, June 21st. TheStreet upgraded shares of Novo Nordisk A/S from a “c+” rating to a “b-” rating in a research report on Tuesday, May 2nd. Finally, HSBC Holdings plc lowered shares of Novo Nordisk A/S from a “hold” rating to a “reduce” rating in a research report on Friday, April 7th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price 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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