Essex Financial Services Inc. Lowers Stake in Novo Nordisk A/S (NVO)

Essex Financial Services Inc. lowered its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 26.5% during the second quarter, Holdings Channel reports. The institutional investor owned 7,630 shares of the company’s stock after selling 2,750 shares during the period. Essex Financial Services Inc.’s holdings in Novo Nordisk A/S were worth $410,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Dock Street Asset Management Inc. increased its position in Novo Nordisk A/S by 0.4% in the second quarter. Dock Street Asset Management Inc. now owns 84,162 shares of the company’s stock valued at $4,526,000 after buying an additional 330 shares in the last quarter. Advisory Services Network LLC increased its position in Novo Nordisk A/S by 28.8% in the second quarter. Advisory Services Network LLC now owns 2,238 shares of the company’s stock valued at $120,000 after buying an additional 500 shares in the last quarter. Private Wealth Partners LLC increased its position in Novo Nordisk A/S by 24.0% in the second quarter. Private Wealth Partners LLC now owns 16,000 shares of the company’s stock valued at $860,000 after buying an additional 3,100 shares in the last quarter. Agran Libbie increased its position in Novo Nordisk A/S by 3.4% in the second quarter. Agran Libbie now owns 9,175 shares of the company’s stock valued at $493,000 after buying an additional 300 shares in the last quarter. Finally, Princeton Capital Management Inc. increased its position in Novo Nordisk A/S by 26.0% in the second quarter. Princeton Capital Management Inc. now owns 56,944 shares of the company’s stock valued at $3,062,000 after buying an additional 11,733 shares in the last quarter. 7.54% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

Shares of Novo Nordisk A/S (NYSE:NVO) traded up 0.57% during midday trading on Tuesday, hitting $40.56. The company’s stock had a trading volume of 2,430,113 shares. The firm has a market cap of $102.87 billion, a price-to-earnings ratio of 19.18 and a beta of 0.73. The firm has a 50-day moving average of $43.63 and a 200 day moving average of $51.17. Novo Nordisk A/S has a 12-month low of $39.03 and a 12-month high of $59.00.

Several equities analysts have recently weighed in on the company. Jefferies Group reissued a “hold” rating on shares of Novo Nordisk A/S in a research report on Sunday. HSBC reissued a “hold” rating on shares of Novo Nordisk A/S in a research report on Thursday, October 13th. Piper Jaffray Cos. assumed coverage on Novo Nordisk A/S in a research report on Friday, September 23rd. They set a “neutral” rating on the stock. Bank of America Corp. set a $57.00 target price on Novo Nordisk A/S and gave the company a “hold” rating in a research report on Saturday, September 17th. Finally, BNP Paribas upgraded Novo Nordisk A/S from a “neutral” rating to an “outperform” rating in a report on Tuesday, September 13th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $61.33.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a healthcare company. The Company is engaged in discovery, development, manufacturing and marketing of pharmaceutical products. The Company’s business segments include diabetes and obesity care, and biopharmaceuticals. The diabetes and obesity care segment covers insulins, glucagon-like peptide-1 (GLP-1), other protein-related products (such as glucagon, protein-related delivery systems and needles), oral anti-diabetic drugs and obesity.

5 Day Chart for NYSE:NVO

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