Beacon Investment Advisory Services Inc. Trims Stock Position in Novo Nordisk A/S (NYSE:NVO)

Beacon Investment Advisory Services Inc. decreased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 1.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 301,592 shares of the company’s stock after selling 5,016 shares during the quarter. Novo Nordisk A/S makes up about 1.5% of Beacon Investment Advisory Services Inc.’s holdings, making the stock its 21st largest position. Beacon Investment Advisory Services Inc.’s holdings in Novo Nordisk A/S were worth $35,911,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 1620 Investment Advisors Inc. purchased a new position in Novo Nordisk A/S during the 2nd quarter worth $25,000. Gilliland Jeter Wealth Management LLC grew its holdings in shares of Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after buying an additional 120 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Novo Nordisk A/S in the 2nd quarter valued at about $25,000. Abound Wealth Management raised its stake 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 acquiring an additional 157 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in Novo Nordisk A/S during the 3rd quarter worth approximately $28,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Up 0.6 %

NYSE:NVO opened at $106.80 on Monday. 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 quick ratio of 0.75 and a current ratio of 0.94. The stock has a fifty day moving average price of $112.81 and a two-hundred day moving average price of $127.92. The stock has a market capitalization of $479.27 billion, a price-to-earnings ratio of 34.56, a PEG ratio of 1.38 and a beta of 0.42.

Analyst Ratings Changes

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