Prime Capital Investment Advisors LLC Sells 9,497 Shares of Novo Nordisk A/S (NYSE:NVO)

Prime Capital Investment Advisors LLC decreased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 12.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 64,191 shares of the company’s stock after selling 9,497 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Novo Nordisk A/S were worth $7,643,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVO. Wealth Enhancement Advisory Services LLC lifted its holdings in Novo Nordisk A/S by 14.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock valued at $34,463,000 after buying an additional 37,346 shares during the period. Private Wealth Partners LLC lifted its stake in shares of Novo Nordisk A/S by 155.1% in the 3rd quarter. Private Wealth Partners LLC now owns 33,203 shares of the company’s stock valued at $3,953,000 after purchasing an additional 20,188 shares during the period. Channel Wealth LLC boosted its position in shares of Novo Nordisk A/S by 15.6% during the 3rd quarter. Channel Wealth LLC now owns 57,353 shares of the company’s stock valued at $6,829,000 after purchasing an additional 7,756 shares in the last quarter. Independence Bank of Kentucky increased its holdings in Novo Nordisk A/S by 192.7% in the third quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock worth $1,368,000 after purchasing an additional 7,565 shares in the last quarter. Finally, Buckingham Capital Management Inc. acquired a new position in Novo Nordisk A/S in the third quarter valued at approximately $3,874,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 1.9 %

Shares of NYSE NVO opened at $107.05 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75. The company has a 50-day moving average price of $120.82 and a 200-day moving average price of $130.22. The stock has a market capitalization of $480.39 billion, a P/E ratio of 34.64, a P/E/G ratio of 1.32 and a beta of 0.42. Novo Nordisk A/S has a 1 year low of $94.73 and a 1 year high of $148.15.

Analyst Ratings Changes

Several analysts have recently weighed in on NVO shares. BMO Capital Markets lowered 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Finally, StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Novo Nordisk A/S has a consensus rating of “Buy” and a consensus target price of $144.50.

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.