Novo Nordisk A/S (NYSE:NVO) Shares Sold by Meridian Investment Counsel Inc.

Meridian Investment Counsel Inc. cut its stake in Novo Nordisk A/S (NYSE:NVO) by 2.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,383 shares of the company’s stock after selling 635 shares during the period. Meridian Investment Counsel Inc.’s holdings in Novo Nordisk A/S were worth $2,784,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. 1620 Investment Advisors Inc. bought a new stake in Novo Nordisk A/S in the 2nd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Novo Nordisk A/S during the 2nd quarter valued at about $25,000. Orion Capital Management LLC bought a new stake in shares of Novo Nordisk A/S during the 1st quarter worth about $26,000. Gilliland Jeter Wealth Management LLC lifted its stake in shares of Novo Nordisk A/S by 200.0% in the 2nd 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 period. Finally, Halpern Financial Inc. boosted its holdings in shares of Novo Nordisk A/S by 113.0% in the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after acquiring an additional 113 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NVO shares. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. BMO Capital Markets cut their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Stock Down 3.4 %

Shares of NYSE:NVO opened at $101.74 on Friday. The firm has a 50 day simple moving average of $118.58 and a 200 day simple moving average of $129.58. Novo Nordisk A/S has a 52 week low of $94.73 and a 52 week high of $148.15. 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 company has a market cap of $456.56 billion, a PE ratio of 32.93, a price-to-earnings-growth ratio of 1.31 and a beta of 0.42.

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.