MAI Capital Management Has $3.45 Million Stock Position in Novo Nordisk A/S (NYSE:NVO)

MAI Capital Management cut its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 40.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,958 shares of the company’s stock after selling 19,709 shares during the period. MAI Capital Management’s holdings in Novo Nordisk A/S were worth $3,448,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in NVO. 1620 Investment Advisors Inc. bought a new stake in shares of Novo Nordisk A/S during the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Novo Nordisk A/S during the second quarter worth about $25,000. Gilliland Jeter Wealth Management LLC increased its position 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 acquiring an additional 120 shares in the last quarter. Halpern Financial Inc. increased 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 acquiring an additional 113 shares in the last quarter. Finally, Abound Wealth Management increased its position in shares of Novo Nordisk A/S by 257.4% during the second quarter. Abound Wealth Management now owns 218 shares of the company’s stock worth $31,000 after acquiring an additional 157 shares in the last quarter. 11.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NVO. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. BMO Capital Markets reduced 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 research report on Thursday, October 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research 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, the company has an average rating of “Buy” and an average target price of $144.50.

Novo Nordisk A/S Stock Up 2.8 %

NVO opened at $102.65 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The stock has a market cap of $460.62 billion, a price-to-earnings ratio of 33.22, a PEG ratio of 1.31 and a beta of 0.42. Novo Nordisk A/S has a twelve month low of $94.73 and a twelve month high of $148.15. The company’s 50-day moving average price is $117.40 and its two-hundred day moving average price is $129.27.

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.