Kovack Advisors Inc. Trims Holdings in Novo Nordisk A/S (NYSE:NVO)

Kovack Advisors Inc. lessened its holdings in Novo Nordisk A/S (NYSE:NVO) by 6.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,023 shares of the company’s stock after selling 392 shares during the period. Kovack Advisors Inc.’s holdings in Novo Nordisk A/S were worth $717,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

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

Novo Nordisk A/S Trading Down 0.1 %

Shares of NVO opened at $106.93 on Thursday. The firm’s fifty day moving average is $120.23 and its two-hundred day moving average is $130.08. The stock has a market cap of $479.83 billion, a PE ratio of 34.60, a price-to-earnings-growth ratio of 1.29 and a beta of 0.42. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. Novo Nordisk A/S has a 52-week low of $94.73 and a 52-week high of $148.15.

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.