Prime Capital Investment Advisors LLC Lowers Stock Position in Novo Nordisk A/S (NYSE:NVO)

Prime Capital Investment Advisors LLC reduced its position in shares of Novo Nordisk A/S (NYSE:NVO) by 12.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,191 shares of the company’s stock after selling 9,497 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Novo Nordisk A/S were worth $7,643,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NVO. 1620 Investment Advisors Inc. bought a new position in shares of Novo Nordisk A/S in the second quarter valued at approximately $25,000. Gilliland Jeter Wealth Management LLC grew its stake in 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 during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Novo Nordisk A/S during the 2nd quarter valued at $25,000. Orion Capital Management LLC bought a new stake in shares of Novo Nordisk A/S during the 1st quarter worth $26,000. Finally, Halpern Financial Inc. boosted its holdings in shares of 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 buying an additional 113 shares during the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Down 1.9 %

Novo Nordisk A/S stock opened at $107.05 on Wednesday. The firm has a market capitalization of $480.39 billion, a price-to-earnings ratio of 34.64, a P/E/G ratio of 1.32 and a beta of 0.42. The firm has a 50 day simple moving average of $120.82 and a 200 day simple moving average of $130.22. Novo Nordisk A/S has a 1-year low of $94.73 and a 1-year high of $148.15. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43.

Analyst Ratings Changes

NVO has been the subject of a number of research analyst reports. BMO Capital Markets decreased their price objective 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 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, Cantor Fitzgerald reissued an “overweight” rating and set 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 given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $144.50.

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.