Linscomb Wealth Inc. Sells 3,479 Shares of Novo Nordisk A/S (NYSE:NVO)

Linscomb Wealth Inc. lowered its position in Novo Nordisk A/S (NYSE:NVO) by 52.9% in the 3rd quarter, Holdings Channel reports. The fund owned 3,093 shares of the company’s stock after selling 3,479 shares during the quarter. Linscomb Wealth Inc.’s holdings in Novo Nordisk A/S were worth $368,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in NVO. First Long Island Investors LLC bought a new position in Novo Nordisk A/S in the third quarter worth $3,715,000. Birchcreek Wealth Management LLC lifted its position in Novo Nordisk A/S by 8.3% during the 3rd quarter. Birchcreek Wealth Management LLC now owns 2,542 shares of the company’s stock valued at $303,000 after acquiring an additional 195 shares during the period. Sheaff Brock Investment Advisors LLC boosted its stake in Novo Nordisk A/S by 4.5% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 3,470 shares of the company’s stock worth $413,000 after acquiring an additional 150 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Novo Nordisk A/S by 3.7% in the third quarter. CIBC Asset Management Inc now owns 69,558 shares of the company’s stock worth $8,194,000 after purchasing an additional 2,494 shares during the period. Finally, Intellectus Partners LLC increased its stake in shares of Novo Nordisk A/S by 9.2% during the third quarter. Intellectus Partners LLC now owns 8,884 shares of the company’s stock valued at $1,058,000 after purchasing an additional 749 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO opened at $101.74 on Friday. Novo Nordisk A/S has a 52-week low of $94.73 and a 52-week high of $148.15. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average price is $118.58 and its 200-day moving average price is $129.58. The company has a market cap of $456.56 billion, a PE ratio of 32.93, a PEG ratio of 1.31 and a beta of 0.42.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. BMO Capital Markets cut 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. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. One equities research 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 data from MarketBeat.com, the company 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.