HCR Wealth Advisors Decreases Position in Novo Nordisk A/S (NYSE:NVO)

HCR Wealth Advisors lowered its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,720 shares of the company’s stock after selling 234 shares during the quarter. HCR Wealth Advisors’ holdings in Novo Nordisk A/S were worth $1,008,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Strategic Investment Solutions Inc. IL acquired a new stake in Novo Nordisk A/S in the 2nd quarter valued at about $25,000. Daiwa Securities Group Inc. purchased a new stake in shares of Novo Nordisk A/S during the third quarter worth approximately $28,000. Capital Performance Advisors LLP purchased a new stake in shares of Novo Nordisk A/S during the third quarter worth approximately $42,000. Carolina Wealth Advisors LLC purchased a new position in Novo Nordisk A/S in the third quarter worth approximately $48,000. Finally, M&R Capital Management Inc. grew its holdings in Novo Nordisk A/S by 260.5% during the 3rd quarter. M&R Capital Management Inc. now owns 411 shares of the company’s stock worth $49,000 after acquiring an additional 297 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Up 2.2 %

Shares of NYSE NVO opened at $82.99 on Thursday. The business has a 50-day moving average price of $99.26 and a 200 day moving average price of $118.18. The stock has a market cap of $372.42 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 0.92 and a beta of 0.45. 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 52-week low of $80.05 and a 52-week high of $148.15.

Wall Street Analyst Weigh In

NVO has been the subject of several recent analyst reports. BMO Capital Markets decreased their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. Finally, Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $140.20.

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.