MGB Wealth Management LLC Lowers Position in Novo Nordisk A/S (NYSE:NVO)

MGB Wealth Management LLC lessened its stake in Novo Nordisk A/S (NYSE:NVO) by 6.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,500 shares of the company’s stock after selling 174 shares during the period. MGB Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $298,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Advisor OS LLC boosted its position in Novo Nordisk A/S by 0.6% in the 2nd quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock worth $1,994,000 after purchasing an additional 82 shares in the last quarter. Cascade Financial Partners LLC lifted its position in shares of Novo Nordisk A/S by 2.3% during the 2nd quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock valued at $543,000 after buying an additional 84 shares in the last quarter. Novare Capital Management LLC lifted its position in shares of Novo Nordisk A/S by 3.2% during the 3rd quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock valued at $325,000 after buying an additional 85 shares in the last quarter. AA Financial Advisors LLC lifted its position in shares of Novo Nordisk A/S by 3.2% during the 2nd quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock valued at $400,000 after buying an additional 86 shares in the last quarter. Finally, Steel Grove Capital Advisors LLC lifted its position in shares of Novo Nordisk A/S by 2.3% during the 2nd quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock valued at $541,000 after buying an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Up 2.4 %

NYSE NVO opened at $105.06 on Friday. The business has a fifty day moving average price of $115.48 and a 200 day moving average price of $128.80. Novo Nordisk A/S has a one year low of $94.73 and a one year high of $148.15. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. The company has a market cap of $471.46 billion, a P/E ratio of 34.00, a P/E/G ratio of 1.32 and a beta of 0.42.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NVO. BMO Capital Markets decreased their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Cantor Fitzgerald reiterated 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. Finally, StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Buy” and an average target price of $144.50.

Novo Nordisk A/S 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.