RKL Wealth Management LLC reduced its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 13.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 66,219 shares of the company’s stock after selling 10,321 shares during the quarter. RKL Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $3,558,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of NVO. Fisher Asset Management LLC boosted its holdings in shares of Novo Nordisk A/S by 4.8% during the fourth quarter. Fisher Asset Management LLC now owns 12,705,477 shares of the company’s stock worth $681,903,000 after purchasing an additional 580,753 shares during the period. Orbimed Advisors LLC acquired a new stake in shares of Novo Nordisk A/S during the third quarter worth approximately $15,890,000. Folketrygdfondet boosted its holdings in shares of Novo Nordisk A/S by 4.4% during the third quarter. Folketrygdfondet now owns 7,217,043 shares of the company’s stock worth $347,501,000 after purchasing an additional 302,851 shares during the period. CI Investments Inc. acquired a new stake in shares of Novo Nordisk A/S during the third quarter worth approximately $14,511,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of Novo Nordisk A/S during the second quarter worth approximately $9,169,000. Institutional investors and hedge funds own 6.19% of the company’s stock.
Shares of Novo Nordisk A/S (NYSE NVO) opened at $50.47 on Monday. The stock has a market cap of $128,698.50, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 2.69 and a beta of 0.54. Novo Nordisk A/S has a one year low of $32.89 and a one year high of $58.37.
Novo Nordisk A/S announced that its board has initiated a share buyback plan on Thursday, February 1st that allows the company to repurchase shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
NVO has been the subject of several research reports. Zacks Investment Research cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, October 9th. Morgan Stanley upgraded shares of Novo Nordisk A/S from an “equal weight” rating to an “overweight” rating in a research note on Friday, December 1st. Bank of America upgraded shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 6th. JPMorgan Chase & Co. upgraded shares of Novo Nordisk A/S from an “underweight” rating to a “neutral” rating in a research note on Friday, December 29th. Finally, Deutsche Bank reiterated a “buy” rating on shares of Novo Nordisk A/S in a research note on Monday, January 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $64.00.
In other Novo Nordisk A/S news, insider Eric S. Sprott bought 50,000 shares of Novo Nordisk A/S stock in a transaction on Wednesday, November 8th. The stock was purchased at an average cost of $8.34 per share, for a total transaction of $417,000.00.
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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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