Novo Nordisk A/S (NYSE:NVO) Stake Lowered by Drive Wealth Management LLC

Drive Wealth Management LLC decreased its stake in Novo Nordisk A/S (NYSE:NVO) by 28.3% during the 4th quarter, HoldingsChannel reports. The firm owned 6,699 shares of the company’s stock after selling 2,645 shares during the period. Drive Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $576,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NVO. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Novo Nordisk A/S in the second quarter valued at approximately $25,000. Daiwa Securities Group Inc. bought a new position in shares of Novo Nordisk A/S in the third quarter worth $28,000. Capital Performance Advisors LLP acquired a new position in shares of Novo Nordisk A/S during the third quarter valued at $42,000. Carolina Wealth Advisors LLC acquired a new position in Novo Nordisk A/S during the 3rd quarter valued at about $48,000. Finally, M&R Capital Management Inc. raised its position in shares of Novo Nordisk A/S by 260.5% during the 3rd quarter. M&R Capital Management Inc. now owns 411 shares of the company’s stock worth $49,000 after buying an additional 297 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock opened at $87.94 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. The firm’s 50-day simple moving average is $95.35 and its 200-day simple moving average is $114.99. Novo Nordisk A/S has a twelve month low of $78.17 and a twelve month high of $148.15. The firm has a market cap of $394.65 billion, a P/E ratio of 28.46, a price-to-earnings-growth ratio of 0.90 and a beta of 0.45.

Wall Street Analysts Forecast Growth

NVO has been the topic of a number of research reports. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. BMO Capital Markets reduced their target price on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $145.25.

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.