Kingswood Wealth Advisors LLC Trims Position in Novo Nordisk A/S (NYSE:NVO)

Kingswood Wealth Advisors LLC trimmed its holdings in Novo Nordisk A/S (NYSE:NVO) by 75.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 8,822 shares of the company’s stock after selling 27,208 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Novo Nordisk A/S were worth $759,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Raymond James & Associates grew its position in Novo Nordisk A/S by 1.0% during the third quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock valued at $419,939,000 after acquiring an additional 36,223 shares during the period. Natixis Advisors LLC lifted its position in Novo Nordisk A/S by 2.7% during the 3rd quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after acquiring an additional 80,070 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Novo Nordisk A/S by 10,608.4% in the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after purchasing an additional 1,796,635 shares during the period. LPL Financial LLC increased its stake in Novo Nordisk A/S by 3.6% during the 3rd quarter. LPL Financial LLC now owns 1,362,782 shares of the company’s stock worth $162,266,000 after buying an additional 47,496 shares during the period. Finally, Mediolanum International Funds Ltd purchased a new stake in shares of Novo Nordisk A/S during the third quarter worth about $98,765,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Down 1.3 %

Shares of NVO opened at $84.05 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $377.17 billion, a P/E ratio of 27.20, a P/E/G ratio of 0.90 and a beta of 0.45. Novo Nordisk A/S has a 1-year low of $78.17 and a 1-year high of $148.15. The business’s 50-day moving average price is $94.75 and its 200 day moving average price is $114.02.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NVO. BMO Capital Markets dropped their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $145.25.

About Novo Nordisk A/S

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.