ETRADE Capital Management LLC Trims Position in Novo Nordisk A/S (NVO)
ETRADE Capital Management LLC cut its position in shares of Novo Nordisk A/S (NYSE:NVO) by 86.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,130 shares of the company’s stock after selling 39,600 shares during the quarter. ETRADE Capital Management LLC’s holdings in Novo Nordisk A/S were worth $263,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. AlphaMark Advisors LLC boosted its position in Novo Nordisk A/S by 1.1% during the second quarter. AlphaMark Advisors LLC now owns 2,645 shares of the company’s stock worth $113,000 after purchasing an additional 30 shares in the last quarter. Trillium Asset Management LLC grew its holdings in Novo Nordisk A/S by 0.4% in the second quarter. Trillium Asset Management LLC now owns 11,928 shares of the company’s stock valued at $512,000 after purchasing an additional 48 shares during the last quarter. Baldwin Investment Management LLC grew its holdings in Novo Nordisk A/S by 1.4% in the second quarter. Baldwin Investment Management LLC now owns 8,004 shares of the company’s stock valued at $343,000 after purchasing an additional 111 shares during the last quarter. Garrison Financial Corp grew its holdings in Novo Nordisk A/S by 1.3% in the second quarter. Garrison Financial Corp now owns 11,675 shares of the company’s stock valued at $501,000 after purchasing an additional 145 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its holdings in Novo Nordisk A/S by 6.1% in the second quarter. Proficio Capital Partners LLC now owns 2,622 shares of the company’s stock valued at $111,000 after purchasing an additional 150 shares during the last quarter. 6.01% of the stock is owned by hedge funds and other institutional investors.
Shares of Novo Nordisk A/S (NYSE NVO) opened at 48.15 on Monday. Novo Nordisk A/S has a one year low of $30.89 and a one year high of $49.45. The firm has a market cap of $119.42 billion, a PE ratio of 19.37 and a beta of 0.61. The firm’s 50-day moving average price is $45.97 and its 200-day moving average price is $41.13.
NVO has been the subject of several research reports. BidaskClub raised Novo Nordisk A/S from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. BNP Paribas lowered shares of Novo Nordisk A/S from an “outperform” rating to a “neutral” rating in a research report on Monday, September 25th. Zacks Investment Research raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Tuesday, September 19th. Finally, Bank of America Corporation raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research note on Wednesday, September 6th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $55.00.
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About Novo Nordisk A/S
Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company’s diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs.
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