Procyon Advisors LLC Reduces Stake in Novo Nordisk A/S

Procyon Advisors LLC has reduced its holdings in Novo Nordisk A/S (NYSE:NVO) by 12.8% during the fourth quarter, as stated in their latest filing with the Securities and Exchange Commission. After selling off 8,178 shares during this period, the institutional investor now owns a total of 55,471 shares of the company's stock. The value of Procyon Advisors LLC's position in Novo Nordisk A/S stood at approximately $4,772,000 at the end of the most recent quarter.

Several other institutional investors have also adjusted their positions in Novo Nordisk A/S. For instance, Natixis Advisors LLC increased its stake by 2.7% during the third quarter. They now hold 3,074,876 shares, valued at around $366,125,000, after acquiring an additional 80,070 shares in the last quarter. Additionally, Norman Fields Gottscho Capital Management LLC acquired 19,870 more shares, boosting their holdings by 45.3% in the fourth quarter, now totaling 63,732 shares worth approximately $5,482,000.

Moreover, Talbot Financial LLC has entered the market with a new stake costing around $4,066,000 during the fourth quarter, while Versant Capital Management Inc took a fresh position valued at about $86,000. Lastly, Zions Bancorporation N.A. increased its stake by 57.0% in the third quarter to own 18,535 shares valued at approximately $2,207,000. Overall, institutional investors and hedge funds now hold 11.54% of Novo Nordisk A/S's shares.

Analysts' Perspectives

In the realm of stocks and investment, various research firms have provided insights into Novo Nordisk A/S. Recently, Cantor Fitzgerald maintained an "overweight" rating with a target price of $160.00. Conversely, UBS Group upgraded their rating from "sell" to "buy" in early January. Sanford C. Bernstein moved their rating from "underperform" to "market perform" in another research note. Additionally, BNP Paribas promoted the stock to a "strong-buy" rating in December. StockNews.com also adjusted their views, downgrading it from a "strong-buy" to a "buy" rating by the end of December. According to MarketBeat data, the consensus rating for Novo Nordisk A/S is now "Buy," with an average target price of $140.20.

Current Trading Performance

As of the last trading session, shares of Novo Nordisk A/S opened at $83.26. The company exhibits a current ratio of 0.94, a quick ratio of 0.75, and a debt-to-equity ratio of 0.43. Over the past year, its stock has reached a low of $80.05 and a high of $148.15. The company boasts a market capitalization of approximately $373.61 billion, with a P/E ratio of 26.94 and a price-to-earnings-growth ratio of 0.92. The moving averages over 50 days and 200 days are $98.82 and $117.93 respectively.

About Novo Nordisk A/S

Novo Nordisk A/S, along with its affiliated companies, is deeply engaged in various pharmaceutical endeavors, including research and development, manufacturing, and distribution of pharmaceutical products across regions such as Europe, the Middle East, Africa, and North America. The company operates primarily in two segments: Diabetes and Obesity Care, as well as Rare Disease.

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