Novo Nordisk A/S (NYSE:NVO) Shares Sold by Palisade Asset Management LLC

Palisade Asset Management LLC cut its stake in Novo Nordisk A/S (NYSE:NVO) by 13.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,296 shares of the company’s stock after selling 350 shares during the period. Palisade Asset Management LLC’s holdings in Novo Nordisk A/S were worth $273,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NVO. 1620 Investment Advisors Inc. acquired a new stake in shares of Novo Nordisk A/S in the second quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Novo Nordisk A/S in the second quarter worth approximately $25,000. Gilliland Jeter Wealth Management LLC boosted its position in shares of 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 last quarter. Halpern Financial Inc. lifted its position in Novo Nordisk A/S by 113.0% during the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after buying an additional 113 shares in the last quarter. Finally, Abound Wealth Management lifted its position in Novo Nordisk A/S by 257.4% during the second quarter. Abound Wealth Management now owns 218 shares of the company’s stock valued at $31,000 after buying an additional 157 shares in the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Trading Up 2.4 %

NYSE NVO opened at $105.06 on Friday. The company’s fifty day simple moving average is $115.48 and its 200-day simple moving average is $128.80. Novo Nordisk A/S has a 52 week low of $94.73 and a 52 week high of $148.15. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. The stock has a market cap of $471.46 billion, a P/E ratio of 34.00, a PEG ratio of 1.32 and a beta of 0.42.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NVO. BMO Capital Markets reduced their price target 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. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average 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.