Beacon Pointe Advisors LLC Trims Position in Novo Nordisk A/S (NYSE:NVO)

Beacon Pointe Advisors LLC reduced its position in Novo Nordisk A/S (NYSE:NVOFree Report) by 56.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,174 shares of the company’s stock after selling 67,425 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Novo Nordisk A/S were worth $5,294,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quadrant Capital Group LLC increased its holdings in shares of Novo Nordisk A/S by 7.2% in the fourth quarter. Quadrant Capital Group LLC now owns 35,036 shares of the company’s stock worth $3,624,000 after purchasing an additional 2,347 shares during the period. Capital Wealth Planning LLC purchased a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at about $782,000. Wade G W & Inc. boosted its position in shares of Novo Nordisk A/S by 84.2% during the 4th quarter. Wade G W & Inc. now owns 8,845 shares of the company’s stock valued at $915,000 after acquiring an additional 4,043 shares during the last quarter. KLR Investment Advisors LLC purchased a new position in shares of Novo Nordisk A/S during the fourth quarter worth about $1,473,000. Finally, Foundations Investment Advisors LLC increased its position in shares of Novo Nordisk A/S by 118.7% in the fourth quarter. Foundations Investment Advisors LLC now owns 83,773 shares of the company’s stock worth $8,666,000 after purchasing an additional 45,470 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NVO. Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Thursday, April 18th. Finally, BMO Capital Markets assumed coverage on Novo Nordisk A/S in a research report on Friday, April 12th. They set an “outperform” rating and a $163.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.60.

Read Our Latest Stock Report on Novo Nordisk A/S

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $131.89 on Friday. The company has a 50-day simple moving average of $128.06 and a two-hundred day simple moving average of $115.20. Novo Nordisk A/S has a 12-month low of $75.56 and a 12-month high of $138.28. The firm has a market cap of $591.86 billion, a price-to-earnings ratio of 45.48, a PEG ratio of 1.88 and a beta of 0.43. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17.

Novo Nordisk A/S Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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