Independent Solutions Wealth Management LLC Sells 440 Shares of Novo Nordisk A/S (NYSE:NVO)

Independent Solutions Wealth Management LLC trimmed its position in shares of Novo Nordisk A/S (NYSE:NVO) by 3.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,534 shares of the company’s stock after selling 440 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $1,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. 1620 Investment Advisors Inc. bought a new stake in shares of Novo Nordisk A/S in the 2nd quarter worth about $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Novo Nordisk A/S during the second quarter valued at $25,000. Gilliland Jeter Wealth Management LLC grew its holdings in shares of Novo Nordisk A/S by 200.0% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after purchasing an additional 120 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in Novo Nordisk A/S during the 3rd quarter valued at about $28,000. Finally, Abound Wealth Management grew its stake in Novo Nordisk A/S by 257.4% in the 2nd quarter. Abound Wealth Management now owns 218 shares of the company’s stock worth $31,000 after acquiring an additional 157 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NVO has been the subject of several recent research reports. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Friday, December 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Finally, BMO Capital Markets dropped their target price 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. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $150.40.

Novo Nordisk A/S Stock Performance

NVO traded down $2.43 on Thursday, reaching $103.53. The stock had a trading volume of 3,614,206 shares, compared to its average volume of 4,530,304. The business’s 50-day moving average price is $109.99 and its two-hundred day moving average price is $125.67. The company has a market cap of $464.59 billion, a P/E ratio of 33.50, a price-to-earnings-growth ratio of 1.37 and a beta of 0.40. Novo Nordisk A/S has a 12-month low of $99.42 and a 12-month high of $148.15. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43.

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.