Balboa Wealth Partners Sells 427 Shares of Novo Nordisk A/S (NYSE:NVO)

Balboa Wealth Partners lessened its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 17.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,981 shares of the company’s stock after selling 427 shares during the quarter. Balboa Wealth Partners’ holdings in Novo Nordisk A/S were worth $236,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of NVO. GQG Partners LLC boosted its position in Novo Nordisk A/S by 654.6% in the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after buying an additional 3,151,584 shares in the last quarter. International Assets Investment Management LLC grew its position in Novo Nordisk A/S by 10,608.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after acquiring an additional 1,796,635 shares during the last quarter. DSM Capital Partners LLC increased its holdings in Novo Nordisk A/S by 257,816.0% during the 2nd quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after purchasing an additional 1,593,303 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Novo Nordisk A/S by 1,300.8% in the first quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock worth $159,703,000 after purchasing an additional 1,155,313 shares in the last quarter. Finally, Mediolanum International Funds Ltd acquired a new position in Novo Nordisk A/S in the third quarter worth $98,765,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NYSE:NVO opened at $101.74 on Friday. 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 has a 1-year low of $94.73 and a 1-year high of $148.15. The stock has a market capitalization of $456.56 billion, a P/E ratio of 32.93, a P/E/G ratio of 1.31 and a beta of 0.42. The business has a 50-day moving average price of $119.17 and a two-hundred day moving average price of $129.75.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NVO. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. BMO Capital Markets lowered their price objective on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $144.50.

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.