Pekin Hardy Strauss Inc. Sells 3,000 Shares of Novo Nordisk A/S (NYSE:NVO)

Pekin Hardy Strauss Inc. lowered its position in Novo Nordisk A/S (NYSE:NVO) by 41.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,165 shares of the company’s stock after selling 3,000 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Novo Nordisk A/S were worth $496,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. 1620 Investment Advisors Inc. bought a new stake in shares of Novo Nordisk A/S in the second quarter worth about $25,000. Gilliland Jeter Wealth Management LLC grew its position 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 valued at $26,000 after purchasing an additional 120 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in Novo Nordisk A/S during the 2nd quarter worth approximately $25,000. Halpern Financial Inc. raised 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 buying an additional 113 shares during the period. Finally, Abound Wealth Management lifted its stake in Novo Nordisk A/S by 257.4% in 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 in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

NVO has been the topic of a number of research analyst reports. BMO Capital Markets dropped their price objective on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. 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. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $105.06 on Monday. The stock has a market cap of $471.46 billion, a PE ratio of 34.00, a P/E/G ratio of 1.35 and a beta of 0.42. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. The firm has a 50-day moving average of $115.48 and a 200-day moving average of $128.81. Novo Nordisk A/S has a 52-week low of $94.73 and a 52-week high of $148.15.

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.