Victory Capital Management Inc. Sells 40,682 Shares of Novo Nordisk A/S (NYSE:NVO)

Victory Capital Management Inc. trimmed its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 50.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,674 shares of the company's stock after selling 40,682 shares during the period. Victory Capital Management Inc.'s holdings in Novo Nordisk A/S were worth $4,724,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. 1620 Investment Advisors Inc. acquired a new stake in Novo Nordisk A/S in the 2nd quarter valued at $25,000. Gilliland Jeter Wealth Management LLC raised its holdings 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 last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Novo Nordisk A/S during the 2nd quarter valued at about $25,000. Halpern Financial Inc. increased its holdings in Novo Nordisk A/S by 113.0% during the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company's stock worth $30,000 after purchasing an additional 113 shares in the last quarter. Finally, Abound Wealth Management raised its stake in shares of Novo Nordisk A/S by 257.4% in the second quarter. Abound Wealth Management now owns 218 shares of the company's stock worth $31,000 after purchasing an additional 157 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NVO. 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. BMO Capital Markets decreased their price objective on shares of 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 target price on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $144.50.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO traded up $2.43 during midday trading on Friday, hitting $105.06. The company's stock had a trading volume of 6,143,345 shares, compared to its average volume of 6,739,271. Novo Nordisk A/S has a one year low of $94.73 and a one year high of $148.15. The firm has a market capitalization of $471.46 billion, a price-to-earnings ratio of 34.00, a P/E/G ratio of 1.32 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. The stock has a fifty day moving average price of $115.48 and a 200 day moving average price of $128.79.

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.