Novo Nordisk A/S (NYSE:NVO) Stock Position Lowered by Concorde Asset Management LLC

Concorde Asset Management LLC lessened its position in Novo Nordisk A/S (NYSE:NVO) by 11.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,359 shares of the company’s stock after selling 556 shares during the period. Concorde Asset Management LLC’s holdings in Novo Nordisk A/S were worth $519,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NVO. Price T Rowe Associates Inc. MD grew its holdings in shares of Novo Nordisk A/S by 10.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after acquiring an additional 823,036 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Novo Nordisk A/S by 1.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock worth $607,242,000 after acquiring an additional 58,935 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Novo Nordisk A/S by 1.0% in the 3rd quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock worth $419,939,000 after acquiring an additional 36,223 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Novo Nordisk A/S by 2.7% in the 3rd quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after acquiring an additional 80,070 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Novo Nordisk A/S by 10,608.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after acquiring an additional 1,796,635 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $102.77 on Friday. 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 has a fifty-two week low of $94.73 and a fifty-two week high of $148.15. The stock’s 50-day moving average is $116.12 and its two-hundred day moving average is $128.92. The firm has a market cap of $461.18 billion, a P/E ratio of 33.26, a PEG ratio of 1.32 and a beta of 0.42.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NVO shares. BMO Capital Markets decreased their target price on 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 raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $144.50.

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.