Empower Advisory Group LLC Cuts Stock Position in Novo Nordisk A/S (NYSE:NVO)

Empower Advisory Group LLC cut its position in Novo Nordisk A/S (NYSE:NVO) by 2.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,731 shares of the company’s stock after selling 289 shares during the period. Empower Advisory Group LLC’s holdings in Novo Nordisk A/S were worth $1,516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in NVO. GQG Partners LLC boosted its stake in shares of Novo Nordisk A/S by 654.6% in the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after acquiring an additional 3,151,584 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Novo Nordisk A/S by 10,608.4% during the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after buying an additional 1,796,635 shares during the last quarter. DSM Capital Partners LLC boosted its stake in Novo Nordisk A/S by 257,816.0% during the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after buying an additional 1,593,303 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Novo Nordisk A/S by 1,300.8% during the first quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock worth $159,703,000 after buying an additional 1,155,313 shares during the last quarter. Finally, Mediolanum International Funds Ltd acquired a new position in Novo Nordisk A/S during the third quarter worth $98,765,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Price Performance

NVO stock opened at $106.93 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $479.83 billion, a PE ratio of 34.60, a P/E/G ratio of 1.29 and a beta of 0.42. Novo Nordisk A/S has a 12-month low of $94.73 and a 12-month high of $148.15. The business’s fifty day moving average price is $120.23 and its 200 day moving average price is $130.08.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Cantor Fitzgerald reissued 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. BMO Capital Markets lowered their price objective 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. Finally, StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. One equities research 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 stock. According to MarketBeat.com, the stock currently has an average 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.