Atria Investments Inc Reduces Stock Position in Novo Nordisk A/S (NYSE:NVO)

Atria Investments Inc lowered its stake in Novo Nordisk A/S (NYSE:NVO) by 1.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 185,087 shares of the company’s stock after selling 3,455 shares during the quarter. Atria Investments Inc’s holdings in Novo Nordisk A/S were worth $22,038,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. 1620 Investment Advisors Inc. bought a new position in Novo Nordisk A/S in the second quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL bought a new position in Novo Nordisk A/S in the second quarter worth approximately $25,000. Orion Capital Management LLC bought a new position in Novo Nordisk A/S in the first quarter worth approximately $26,000. Gilliland Jeter Wealth Management LLC raised its position 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. Finally, Halpern Financial Inc. raised its position 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. 11.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday. BMO Capital Markets decreased their price objective on shares of 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. Finally, StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given 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

NVO opened at $107.20 on Friday. The stock has a market capitalization of $481.06 billion, a price-to-earnings ratio of 34.69, a PEG ratio of 1.44 and a beta of 0.42. The company has a fifty day moving average of $121.42 and a 200 day moving average of $130.30. Novo Nordisk A/S has a fifty-two week low of $94.73 and a fifty-two week high of $148.15. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.06). The company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a net margin of 35.03% and a return on equity of 89.69%. As a group, sell-side analysts forecast that Novo Nordisk A/S will post 2.87 earnings per share for the current fiscal year.

About Novo Nordisk A/S

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.