Baker Tilly Wealth Management LLC Lowers Holdings in Novo Nordisk A/S (NYSE:NVO)

Baker Tilly Wealth Management LLC lowered its position in Novo Nordisk A/S (NYSE:NVO) by 18.4% during the 4th quarter, Holdings Channel reports. The firm owned 8,416 shares of the company’s stock after selling 1,902 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $724,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new stake in Novo Nordisk A/S during the second quarter worth $25,000. Abound Wealth Management raised its stake in shares of Novo Nordisk A/S by 257.4% during the 2nd quarter. Abound Wealth Management now owns 218 shares of the company’s stock worth $31,000 after acquiring an additional 157 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in Novo Nordisk A/S during the third quarter valued at approximately $28,000. Capital Performance Advisors LLP purchased a new position in Novo Nordisk A/S in the third quarter worth $42,000. Finally, Carolina Wealth Advisors LLC purchased a new stake in shares of Novo Nordisk A/S during the 3rd quarter valued at $48,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NVO has been the topic of several recent analyst reports. BMO Capital Markets reduced their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday. Finally, UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Novo Nordisk A/S has a consensus rating of “Buy” and an average price target of $140.20.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock traded up $1.33 during trading on Friday, hitting $86.97. 2,048,832 shares of the company’s stock were exchanged, compared to its average volume of 6,582,367. The stock has a market capitalization of $390.28 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 1.37 and a beta of 0.45. The business has a 50-day simple moving average of $100.86 and a 200-day simple moving average of $119.79. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. Novo Nordisk A/S has a 52-week low of $81.50 and a 52-week high of $148.15.

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.