Orion Portfolio Solutions LLC Decreases Holdings in Novo Nordisk A/S (NYSE:NVO)

Orion Portfolio Solutions LLC cut its stake in Novo Nordisk A/S (NYSE:NVO) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 269,665 shares of the company’s stock after selling 4,260 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Novo Nordisk A/S were worth $32,109,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Capital Investment Advisors LLC raised its holdings in shares of Novo Nordisk A/S by 21.7% during the 2nd quarter. Capital Investment Advisors LLC now owns 3,908 shares of the company’s stock valued at $558,000 after buying an additional 698 shares during the period. Cypress Wealth Services LLC acquired a new position in shares of Novo Nordisk A/S during the second quarter worth $228,000. Sound Income Strategies LLC lifted its position in shares of Novo Nordisk A/S by 1,341.0% during the second quarter. Sound Income Strategies LLC now owns 1,124 shares of the company’s stock worth $160,000 after purchasing an additional 1,046 shares in the last quarter. Fermata Advisors LLC boosted its stake in shares of Novo Nordisk A/S by 58.3% in the second quarter. Fermata Advisors LLC now owns 3,695 shares of the company’s stock valued at $527,000 after purchasing an additional 1,361 shares during the period. Finally, Austin Private Wealth LLC acquired a new stake in Novo Nordisk A/S during the 2nd quarter valued at $204,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $110.78 on Friday. The stock has a market capitalization of $497.13 billion, a price-to-earnings ratio of 35.85, a PEG ratio of 1.38 and a beta of 0.40. Novo Nordisk A/S has a one year low of $94.73 and a one year high of $148.15. The company’s 50-day simple moving average is $111.51 and its 200-day simple moving average is $127.33. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. BMO Capital Markets lowered their price objective on 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price 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, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Buy” and a consensus price target of $150.40.

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.