Icon Wealth Advisors LLC Cuts Stake in Novo Nordisk A/S (NYSE:NVO)

Icon Wealth Advisors LLC lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 71.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,442 shares of the company’s stock after selling 28,924 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Novo Nordisk A/S were worth $1,362,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NVO. Natixis raised its stake in Novo Nordisk A/S by 748.1% in the first quarter. Natixis now owns 5,903 shares of the company’s stock valued at $758,000 after buying an additional 5,207 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Novo Nordisk A/S by 38.7% during the first quarter. Capital Research Global Investors now owns 47,233 shares of the company’s stock valued at $6,065,000 after acquiring an additional 13,181 shares in the last quarter. Steel Grove Capital Advisors LLC increased its holdings in shares of Novo Nordisk A/S by 47.9% during the first quarter. Steel Grove Capital Advisors LLC now owns 3,704 shares of the company’s stock valued at $476,000 after acquiring an additional 1,200 shares in the last quarter. Kestra Advisory Services LLC raised its position in shares of Novo Nordisk A/S by 23.4% in the 1st quarter. Kestra Advisory Services LLC now owns 124,616 shares of the company’s stock valued at $16,014,000 after purchasing an additional 23,641 shares during the last quarter. Finally, BOKF NA boosted its stake in Novo Nordisk A/S by 31.6% in the 1st quarter. BOKF NA now owns 7,792 shares of the company’s stock worth $994,000 after purchasing an additional 1,871 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. 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 issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Finally, BMO Capital Markets dropped their price target on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Novo Nordisk A/S has a consensus rating of “Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Trading Up 2.4 %

Shares of Novo Nordisk A/S stock opened at $105.07 on Friday. The stock has a market cap of $471.50 billion, a PE ratio of 34.00, a price-to-earnings-growth ratio of 1.32 and a beta of 0.42. The firm has a fifty day moving average price of $115.48 and a 200 day moving average price of $128.79. Novo Nordisk A/S has a 1 year low of $94.73 and a 1 year high of $148.15. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75.

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.