Verity & Verity LLC Decreases Position in Novo Nordisk A/S (NYSE:NVO)

Verity & Verity LLC decreased its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 20.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,790 shares of the company’s stock after selling 700 shares during the quarter. Verity & Verity LLC’s holdings in Novo Nordisk A/S were worth $332,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Natixis Advisors LLC increased its position in Novo Nordisk A/S by 2.7% during the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after buying an additional 80,070 shares during the period. Zions Bancorporation N.A. increased its position in Novo Nordisk A/S by 57.0% during the third quarter. Zions Bancorporation N.A. now owns 18,535 shares of the company’s stock worth $2,207,000 after buying an additional 6,726 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Novo Nordisk A/S by 14.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock valued at $34,463,000 after purchasing an additional 37,346 shares during the period. Private Wealth Partners LLC increased its holdings in shares of Novo Nordisk A/S by 155.1% in the third quarter. Private Wealth Partners LLC now owns 33,203 shares of the company’s stock valued at $3,953,000 after purchasing an additional 20,188 shares during the period. Finally, Buckingham Capital Management Inc. acquired a new position in shares of Novo Nordisk A/S in the third quarter valued at approximately $3,874,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NVO stock opened at $99.82 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 1 year low of $94.73 and a 1 year high of $148.15. The firm has a market cap of $447.95 billion, a P/E ratio of 32.30, a price-to-earnings-growth ratio of 1.31 and a beta of 0.42. The stock has a 50-day simple moving average of $117.94 and a 200-day simple moving average of $129.42.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. BMO Capital Markets dropped their price objective 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. Finally, Cantor Fitzgerald reaffirmed 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average 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.