South Street Advisors LLC Has $22.21 Million Stake in Novo Nordisk A/S (NYSE:NVO)

South Street Advisors LLC reduced its stake in Novo Nordisk A/S (NYSE:NVO) by 19.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 186,531 shares of the company’s stock after selling 44,988 shares during the period. Novo Nordisk A/S makes up 3.4% of South Street Advisors LLC’s portfolio, making the stock its 8th largest holding. South Street Advisors LLC’s holdings in Novo Nordisk A/S were worth $22,210,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of NVO. GQG Partners LLC grew its stake in shares of Novo Nordisk A/S by 654.6% in the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after buying an additional 3,151,584 shares in the last quarter. International Assets Investment Management LLC grew its position in Novo Nordisk A/S by 10,608.4% in the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after acquiring an additional 1,796,635 shares in the last quarter. DSM Capital Partners LLC increased its stake in Novo Nordisk A/S by 257,816.0% during the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after acquiring an additional 1,593,303 shares during the last quarter. Acadian Asset Management LLC raised its position in Novo Nordisk A/S by 1,300.8% during the first quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock valued at $159,703,000 after purchasing an additional 1,155,313 shares during the period. Finally, Mediolanum International Funds Ltd bought a new stake in shares of Novo Nordisk A/S in the 3rd quarter valued at approximately $98,765,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 3.4 %

Shares of NVO stock traded down $3.58 during mid-day trading on Friday, hitting $101.74. The stock had a trading volume of 8,076,248 shares, compared to its average volume of 4,457,389. The firm has a market capitalization of $456.56 billion, a P/E ratio of 32.93, a price-to-earnings-growth ratio of 1.31 and a beta of 0.42. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75. Novo Nordisk A/S has a 12-month low of $94.73 and a 12-month high of $148.15. The firm’s 50-day moving average is $118.58 and its two-hundred day moving average is $129.58.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NVO. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets cut their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. One equities research 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 stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $144.50.

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.