Canopy Partners LLC Lowers Stake in Novo Nordisk A/S (NYSE:NVO)

Canopy Partners LLC lessened its holdings in Novo Nordisk A/S (NYSE:NVO) by 2.7% during the third quarter, Holdings Channel.com reports. The firm owned 6,633 shares of the company’s stock after selling 185 shares during the quarter. Canopy Partners LLC’s holdings in Novo Nordisk A/S were worth $790,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. 1620 Investment Advisors Inc. bought a new position in Novo Nordisk A/S during the 2nd quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Novo Nordisk A/S during the second quarter valued at $25,000. Gilliland Jeter Wealth Management LLC raised its position in shares of Novo Nordisk A/S by 200.0% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after purchasing an additional 120 shares during the last quarter. Halpern Financial Inc. boosted its stake in Novo Nordisk A/S by 113.0% in the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock worth $30,000 after purchasing an additional 113 shares in the last quarter. Finally, Abound Wealth Management grew its position in Novo Nordisk A/S by 257.4% during the 2nd quarter. Abound Wealth Management now owns 218 shares of the company’s stock valued at $31,000 after purchasing an additional 157 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

NVO has been the subject of several recent analyst reports. BMO Capital Markets decreased their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Price Performance

NYSE NVO opened at $105.07 on Friday. The stock has a market capitalization of $471.50 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 1.32 and a beta of 0.42. Novo Nordisk A/S has a 1-year low of $94.73 and a 1-year high of $148.15. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75. The business’s fifty day moving average price is $115.48 and its 200-day moving average price is $128.79.

Novo Nordisk A/S Company Profile

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.