Navellier & Associates Inc. Sells 7,346 Shares of Novo Nordisk A/S (NYSE:NVO)

Navellier & Associates Inc. cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 5.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,465 shares of the company’s stock after selling 7,346 shares during the quarter. Novo Nordisk A/S accounts for 1.9% of Navellier & Associates Inc.’s portfolio, making the stock its 7th biggest holding. Navellier & Associates Inc.’s holdings in Novo Nordisk A/S were worth $14,106,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. 1620 Investment Advisors Inc. purchased a new stake in shares of Novo Nordisk A/S in the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in Novo Nordisk A/S during the second quarter worth $25,000. Gilliland Jeter Wealth Management LLC boosted its position in 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 purchasing an additional 120 shares in the last quarter. Halpern Financial Inc. boosted its position in 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 purchasing an additional 113 shares in the last quarter. Finally, Abound Wealth Management boosted its position in 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 purchasing an additional 157 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on NVO. BMO Capital Markets decreased their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Cantor Fitzgerald restated 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 analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $144.50.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $103.17 on Thursday. The firm has a market capitalization of $462.98 billion, a P/E ratio of 34.08, a PEG ratio of 1.32 and a beta of 0.42. The stock has a fifty day moving average price of $116.80 and a 200 day moving average price of $129.11. Novo Nordisk A/S has a 52 week low of $94.73 and a 52 week 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.

Novo Nordisk A/S 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.