M&T Bank Corp decreased its stake in Novo Nordisk A/S (NYSE:NVO) by 13.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 106,898 shares of the company’s stock after selling 16,302 shares during the period. M&T Bank Corp’s holdings in Novo Nordisk A/S were worth $4,445,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Saratoga Research & Investment Management boosted its stake in Novo Nordisk A/S by 5.8% in the second quarter. Saratoga Research & Investment Management now owns 797,432 shares of the company’s stock valued at $42,886,000 after buying an additional 43,556 shares during the last quarter. Ngam Advisors L.P. boosted its stake in Novo Nordisk A/S by 2.1% in the second quarter. Ngam Advisors L.P. now owns 902,947 shares of the company’s stock valued at $48,561,000 after buying an additional 18,189 shares during the last quarter. Princeton Alpha Management LP purchased a new stake in Novo Nordisk A/S during the second quarter valued at $407,000. Advisory Services Network LLC boosted its stake 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 during the last quarter. Finally, Todd Asset Management LLC boosted its stake in Novo Nordisk A/S by 26.8% in the second quarter. Todd Asset Management LLC now owns 236,092 shares of the company’s stock valued at $12,697,000 after buying an additional 49,830 shares during the last quarter. 7.34% of the stock is owned by institutional investors and hedge funds.

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

Shares of Novo Nordisk A/S (NYSE:NVO) traded up 0.55% during midday trading on Tuesday, reaching $32.72. The company had a trading volume of 4,329,938 shares. The company has a market capitalization of $82.67 billion, a PE ratio of 15.61 and a beta of 0.84. The company has a 50 day moving average of $36.32 and a 200 day moving average of $47.04. Novo Nordisk A/S has a one year low of $30.89 and a one year high of $59.00.

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NVO has been the subject of several analyst reports. Zacks Investment Research cut Novo Nordisk A/S from a “hold” rating to a “sell” rating in a report on Tuesday, September 6th. JPMorgan Chase & Co. cut Novo Nordisk A/S from an “overweight” rating to a “neutral” rating in a report on Friday, September 9th. Deutsche Bank AG raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Monday, September 12th. Bank of America Corp. cut Novo Nordisk A/S from a “neutral” rating to an “underperform” rating in a report on Friday, October 28th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Novo Nordisk A/S in a report on Sunday, October 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Novo Nordisk A/S currently has a consensus rating of “Hold” and an average price target 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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