MGB Wealth Management LLC Lowers Stake in Novo Nordisk A/S (NYSE:NVO)

MGB Wealth Management LLC reduced its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 6.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,500 shares of the company’s stock after selling 174 shares during the quarter. MGB Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $298,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. 1620 Investment Advisors Inc. purchased a new stake in Novo Nordisk A/S in the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in Novo Nordisk A/S in the second quarter worth about $25,000. Gilliland Jeter Wealth Management LLC lifted its stake in Novo Nordisk A/S by 200.0% in 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 during the period. Halpern Financial Inc. lifted its stake in Novo Nordisk A/S by 113.0% in the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock worth $30,000 after acquiring an additional 113 shares during the period. Finally, Abound Wealth Management lifted its stake in Novo Nordisk A/S by 257.4% in the second quarter. Abound Wealth Management now owns 218 shares of the company’s stock worth $31,000 after acquiring an additional 157 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

NVO opened at $105.06 on Friday. Novo Nordisk A/S has a 52-week low of $94.73 and a 52-week high of $148.15. The firm’s 50-day moving average price is $115.48 and its 200-day moving average price is $128.80. 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 company has a market cap of $471.46 billion, a P/E ratio of 34.00, a price-to-earnings-growth ratio of 1.32 and a beta of 0.42.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. 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. BMO Capital Markets lowered 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 note on Thursday, October 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price 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 issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Novo Nordisk A/S 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.