Novo Nordisk A/S (NYSE:NVO) Shares Sold by Summit Financial Wealth Advisors LLC

Summit Financial Wealth Advisors LLC trimmed its position in shares of Novo Nordisk A/S (NYSE:NVO) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,550 shares of the company’s stock after selling 360 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in Novo Nordisk A/S were worth $1,137,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. purchased a new stake in shares of Novo Nordisk A/S during the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in Novo Nordisk A/S during the 2nd quarter worth approximately $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 valued at $26,000 after purchasing an additional 120 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of Novo Nordisk A/S during the 3rd quarter valued at approximately $28,000. Finally, Halpern Financial Inc. grew its position in shares of Novo Nordisk A/S by 113.0% during the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock worth $30,000 after buying an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 0.5 %

NYSE NVO opened at $104.56 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. Novo Nordisk A/S has a one year low of $94.73 and a one year high of $148.15. The company has a 50-day simple moving average of $114.83 and a 200-day simple moving average of $128.64. The firm has a market capitalization of $469.22 billion, a PE ratio of 33.84, a price-to-earnings-growth ratio of 1.35 and a beta of 0.42.

Analyst Ratings Changes

Several analysts recently issued reports on NVO shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets decreased their price target on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, 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.