Icon Wealth Advisors LLC Trims Holdings in Novo Nordisk A/S (NYSE:NVO)

Icon Wealth Advisors LLC reduced its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 71.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Natixis boosted its position in Novo Nordisk A/S by 748.1% in the 1st 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 period. Capital Research Global Investors raised its stake 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 boosted its holdings in shares of Novo Nordisk A/S by 47.9% in the first quarter. Steel Grove Capital Advisors LLC now owns 3,704 shares of the company’s stock valued at $476,000 after purchasing an additional 1,200 shares during the period. Kestra Advisory Services LLC grew its stake in Novo Nordisk A/S by 23.4% in the first quarter. Kestra Advisory Services LLC now owns 124,616 shares of the company’s stock worth $16,014,000 after purchasing an additional 23,641 shares in the last quarter. Finally, BOKF NA increased its holdings in Novo Nordisk A/S by 31.6% during 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 during the period. 11.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on NVO shares. BMO Capital Markets lowered their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Finally, 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. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Trading Up 2.4 %

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

Novo Nordisk A/S Company 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.