Moran Wealth Management LLC Has $51.16 Million Stake in Novo Nordisk A/S (NYSE:NVO)

Moran Wealth Management LLC lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 1.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 429,635 shares of the company's stock after selling 5,196 shares during the period. Novo Nordisk A/S accounts for 1.6% of Moran Wealth Management LLC's portfolio, making the stock its 4th largest position. Moran Wealth Management LLC's holdings in Novo Nordisk A/S were worth $51,157,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Natixis Advisors LLC raised its holdings in Novo Nordisk A/S by 2.7% in the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company's stock worth $366,125,000 after purchasing an additional 80,070 shares during the period. Zions Bancorporation N.A. raised its stake in Novo Nordisk A/S by 57.0% during the 3rd quarter. Zions Bancorporation N.A. now owns 18,535 shares of the company's stock worth $2,207,000 after buying an additional 6,726 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Novo Nordisk A/S by 14.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company's stock worth $34,463,000 after acquiring an additional 37,346 shares in the last quarter. Private Wealth Partners LLC raised its position in shares of Novo Nordisk A/S by 155.1% during the third quarter. Private Wealth Partners LLC now owns 33,203 shares of the company's stock worth $3,953,000 after purchasing an additional 20,188 shares during the period. Finally, Buckingham Capital Management Inc. bought a new position in shares of Novo Nordisk A/S during the 3rd quarter valued at about $3,874,000. Institutional investors and hedge funds own 11.54% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NVO shares. StockNews.com upgraded Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a report on Friday, November 1st. 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. Finally, BMO Capital Markets decreased their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an "outperform" rating for the company in a research note on Thursday, October 17th. One equities 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. Based on data from MarketBeat, Novo Nordisk A/S currently has an average rating of "Buy" and a consensus price target of $144.50.

Novo Nordisk A/S Stock Performance

NYSE:NVO traded up $2.67 on Wednesday, hitting $105.30. The company's stock had a trading volume of 7,517,325 shares, compared to its average volume of 4,496,117. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. Novo Nordisk A/S has a one year low of $94.73 and a one year high of $148.15. The stock has a fifty day moving average of $116.80 and a two-hundred day moving average of $129.11. The firm has a market capitalization of $472.51 billion, a P/E ratio of 34.08, 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.