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

Victory Capital Management Inc. lowered its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 50.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,674 shares of the company’s stock after selling 40,682 shares during the quarter. Victory Capital Management Inc.’s holdings in Novo Nordisk A/S were worth $4,724,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. bought a new position in Novo Nordisk A/S during the second quarter valued at about $25,000. Gilliland Jeter Wealth Management LLC grew its position in Novo Nordisk A/S by 200.0% during the second 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 during the period. Strategic Investment Solutions Inc. IL bought a new position in Novo Nordisk A/S during the second quarter valued at about $25,000. Halpern Financial Inc. grew its position in Novo Nordisk A/S by 113.0% during the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after buying an additional 113 shares during the period. Finally, Abound Wealth Management grew its position in Novo Nordisk A/S by 257.4% during the second quarter. Abound Wealth Management now owns 218 shares of the company’s stock valued at $31,000 after buying an additional 157 shares during the period. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Up 2.4 %

Shares of Novo Nordisk A/S stock opened at $105.07 on Friday. The company’s 50-day moving average price is $115.48 and its 200-day moving average price is $128.79. 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 12-month low of $94.73 and a 12-month high of $148.15. The company has a market cap of $471.50 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 1.32 and a beta of 0.42.

Wall Street Analyst Weigh In

Several research firms have commented 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. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Finally, BMO Capital Markets reduced 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 research note on Thursday, October 17th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $144.50.

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.