PNC Financial Services Group Inc. Lowers Stock Position in Novo Nordisk A/S (NYSE:NVO)

PNC Financial Services Group Inc. reduced its holdings in Novo Nordisk A/S (NYSE:NVO) by 0.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 561,538 shares of the company’s stock after selling 3,921 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Novo Nordisk A/S were worth $66,862,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its holdings in Novo Nordisk A/S by 10.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock valued at $1,102,857,000 after acquiring an additional 823,036 shares during the period. Envestnet Asset Management Inc. increased its holdings in Novo Nordisk A/S by 1.4% in the second quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock valued at $607,242,000 after buying an additional 58,935 shares in the last quarter. Raymond James & Associates lifted its position in shares of Novo Nordisk A/S by 1.0% during the 3rd quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock valued at $419,939,000 after acquiring an additional 36,223 shares during the period. Natixis Advisors LLC increased its stake in Novo Nordisk A/S by 2.7% in the 3rd quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock valued at $366,125,000 after purchasing an additional 80,070 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in Novo Nordisk A/S by 7.8% during the first quarter. 1832 Asset Management L.P. now owns 2,373,029 shares of the company’s stock worth $304,697,000 after purchasing an additional 172,003 shares during the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $102.65 on Wednesday. The firm has a market capitalization of $460.62 billion, a P/E ratio of 33.22, a PEG ratio of 1.31 and a beta of 0.42. Novo Nordisk A/S has a 52 week low of $94.73 and a 52 week high of $148.15. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. The stock has a fifty day moving average price of $117.40 and a 200 day moving average price of $129.27.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. BMO Capital Markets cut their target price on shares of 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 reiterated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Novo Nordisk A/S presently has an average rating of “Buy” and an average target price of $144.50.

Novo Nordisk A/S 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.