B. Riley Wealth Advisors Inc. Cuts Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

B. Riley Wealth Advisors Inc. trimmed its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 33.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,482 shares of the company's stock after selling 20,024 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Novo Nordisk A/S were worth $4,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of NVO. 1620 Investment Advisors Inc. purchased a new position in shares of Novo Nordisk A/S during the 2nd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Novo Nordisk A/S during the second quarter worth $25,000. Gilliland Jeter Wealth Management LLC grew its holdings in 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 valued at $26,000 after buying an additional 120 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Novo Nordisk A/S in the third quarter valued at about $28,000. Finally, Abound Wealth Management lifted its holdings in Novo Nordisk A/S by 257.4% in the second quarter. Abound Wealth Management now owns 218 shares of the company's stock valued at $31,000 after acquiring an additional 157 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Down 1.5 %

Shares of Novo Nordisk A/S stock traded down $1.66 during trading hours on Friday, hitting $106.95. The company had a trading volume of 6,250,388 shares, compared to its average volume of 4,531,001. The company's 50-day moving average is $110.59 and its two-hundred day moving average is $126.22. The company has a market cap of $479.94 billion, a P/E ratio of 34.61, a price-to-earnings-growth ratio of 1.43 and a beta of 0.40. Novo Nordisk A/S has a twelve month low of $96.53 and a twelve month high of $148.15. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "buy" rating in a research note on Friday. BMO Capital Markets cut 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 note on Thursday, October 17th. BNP Paribas raised shares of Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, December 2nd. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note 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. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $150.40.

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.