Franklin Resources Inc. Trims Position in Novo Nordisk A/S (NYSE:NVO)

Franklin Resources Inc. lessened its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 0.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 875,842 shares of the company’s stock after selling 4,405 shares during the period. Franklin Resources Inc.’s holdings in Novo Nordisk A/S were worth $104,908,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. 1620 Investment Advisors Inc. purchased a new position in shares of Novo Nordisk A/S during the 2nd quarter worth $25,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Novo Nordisk A/S during the 2nd quarter worth $25,000. Gilliland Jeter Wealth Management LLC raised its holdings in shares of Novo Nordisk A/S by 200.0% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after acquiring an additional 120 shares during the period. Daiwa Securities Group Inc. acquired a new stake in shares of Novo Nordisk A/S during the 3rd quarter worth about $28,000. Finally, Abound Wealth Management increased its position in shares of Novo Nordisk A/S by 257.4% during the 2nd quarter. Abound Wealth Management now owns 218 shares of the company’s stock worth $31,000 after purchasing an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $106.95 on Monday. The company has a market cap of $479.94 billion, a P/E ratio of 34.61, a P/E/G ratio of 1.43 and a beta of 0.40. 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 stock has a 50-day moving average of $110.59 and a two-hundred day moving average of $126.17. Novo Nordisk A/S has a 1-year low of $96.53 and a 1-year high of $148.15.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NVO shares. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Friday. BMO Capital Markets cut their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $150.40.

About Novo Nordisk A/S

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.