Intrepid Financial Planning Group LLC Reduces Stock Position in Novo Nordisk A/S (NYSE:NVO)

Intrepid Financial Planning Group LLC cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 12.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,788 shares of the company’s stock after selling 1,660 shares during the period. Intrepid Financial Planning Group LLC’s holdings in Novo Nordisk A/S were worth $1,404,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. GQG Partners LLC increased its position in Novo Nordisk A/S by 654.6% during the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after acquiring an additional 3,151,584 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Novo Nordisk A/S by 10,608.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after purchasing an additional 1,796,635 shares during the period. DSM Capital Partners LLC grew its holdings in Novo Nordisk A/S by 257,816.0% during the 2nd quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after purchasing an additional 1,593,303 shares during the last quarter. Acadian Asset Management LLC raised its position in Novo Nordisk A/S by 1,300.8% in the 1st quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock worth $159,703,000 after purchasing an additional 1,155,313 shares during the period. Finally, Mediolanum International Funds Ltd bought a new stake in Novo Nordisk A/S in the third quarter worth about $98,765,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

NVO stock opened at $109.11 on Tuesday. Novo Nordisk A/S has a 1-year low of $94.73 and a 1-year high of $148.15. The business has a 50-day moving average price of $120.82 and a 200 day moving average price of $130.22. The company has a market capitalization of $489.63 billion, a P/E ratio of 35.31, a PEG ratio of 1.48 and a beta of 0.42. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75.

Analysts Set New Price Targets

NVO has been the topic of several recent analyst reports. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. Finally, BMO Capital Markets cut their price target on shares of 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. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price 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.