MAI Capital Management Sells 19,709 Shares of Novo Nordisk A/S (NYSE:NVO)

MAI Capital Management lowered its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 40.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,958 shares of the company's stock after selling 19,709 shares during the quarter. MAI Capital Management's holdings in Novo Nordisk A/S were worth $3,448,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. 1620 Investment Advisors Inc. bought a new stake in Novo Nordisk A/S during the second quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in Novo Nordisk A/S in the 2nd quarter worth approximately $25,000. Gilliland Jeter Wealth Management LLC lifted its position 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 worth $26,000 after buying an additional 120 shares in the last quarter. Halpern Financial Inc. lifted its position in Novo Nordisk A/S by 113.0% in the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company's stock worth $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% in the 2nd quarter. Abound Wealth Management now owns 218 shares of the company's stock worth $31,000 after buying an additional 157 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company's stock.

Wall Street Analyst Weigh In

NVO has been the topic of a number of recent research reports. Cantor Fitzgerald restated an "overweight" rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. BMO Capital Markets dropped their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an "outperform" rating on the stock in a report on Thursday, October 17th. Finally, StockNews.com upgraded shares of Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a report on Friday, November 1st. One investment 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 stock. According to MarketBeat.com, Novo Nordisk A/S has an average rating of "Buy" and a consensus target price of $144.50.

Novo Nordisk A/S Trading Up 2.6 %

NYSE NVO traded up $2.64 during trading on Wednesday, reaching $105.27. 7,514,015 shares of the stock traded hands, compared to its average volume of 4,496,117. The firm has a market cap of $472.40 billion, a price-to-earnings ratio of 33.22, a price-to-earnings-growth ratio of 1.31 and a beta of 0.42. The stock's 50-day moving average price is $117.40 and its 200 day moving average price is $129.27. 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 fifty-two week low of $94.73 and a fifty-two week high of $148.15.

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.