Concorde Asset Management LLC Cuts Position in Novo Nordisk A/S (NYSE:NVO)

Concorde Asset Management LLC reduced its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 11.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,359 shares of the company’s stock after selling 556 shares during the quarter. Concorde Asset Management LLC’s holdings in Novo Nordisk A/S were worth $519,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Natixis Advisors LLC raised its holdings in shares of Novo Nordisk A/S by 2.7% during the 3rd quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock valued at $366,125,000 after buying an additional 80,070 shares during the period. Zions Bancorporation N.A. grew its stake in Novo Nordisk A/S by 57.0% during the 3rd quarter. Zions Bancorporation N.A. now owns 18,535 shares of the company’s stock valued at $2,207,000 after purchasing an additional 6,726 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Novo Nordisk A/S by 14.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock valued at $34,463,000 after purchasing an additional 37,346 shares in the last quarter. Private Wealth Partners LLC grew its stake in Novo Nordisk A/S by 155.1% during the 3rd quarter. Private Wealth Partners LLC now owns 33,203 shares of the company’s stock valued at $3,953,000 after purchasing an additional 20,188 shares in the last quarter. Finally, Buckingham Capital Management Inc. acquired a new stake in Novo Nordisk A/S during the 3rd quarter valued at approximately $3,874,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Down 2.4 %

Shares of Novo Nordisk A/S stock opened at $102.77 on Friday. The business’s fifty day moving average price is $116.12 and its two-hundred day moving average price is $128.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75. The company has a market capitalization of $461.18 billion, a P/E ratio of 33.26, a PEG ratio of 1.32 and a beta of 0.42. Novo Nordisk A/S has a 1-year low of $94.73 and a 1-year high of $148.15.

Analyst Ratings Changes

Several brokerages have recently commented on NVO. BMO Capital Markets decreased their target price on 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. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Novo Nordisk A/S presently has an average rating of “Buy” and a consensus price target of $144.50.

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.