Novo Nordisk A/S (NYSE:NVO) Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. cut its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 5.5% in the 3rd quarter, Holdings Channel reports. The firm owned 18,277 shares of the company’s stock after selling 1,058 shares during the period. Freedom Investment Management Inc.’s holdings in Novo Nordisk A/S were worth $2,176,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. 1620 Investment Advisors Inc. acquired a new stake in Novo Nordisk A/S during the 2nd quarter worth about $25,000. Gilliland Jeter Wealth Management LLC increased its position in Novo Nordisk A/S by 200.0% in the 2nd 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. Strategic Investment Solutions Inc. IL bought a new position in Novo Nordisk A/S during the second quarter valued at approximately $25,000. Halpern Financial Inc. grew its position in Novo Nordisk A/S by 113.0% in the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock worth $30,000 after acquiring an additional 113 shares in the last quarter. Finally, Abound Wealth Management increased its position in Novo Nordisk A/S by 257.4% during the second quarter. Abound Wealth Management now owns 218 shares of the company’s stock worth $31,000 after buying an additional 157 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

NVO has been the subject of a number of recent analyst reports. BMO Capital Markets decreased their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Trading Up 1.5 %

Shares of NVO opened at $106.15 on Wednesday. The firm has a market capitalization of $476.35 billion, a price-to-earnings ratio of 34.35, a P/E/G ratio of 1.35 and a beta of 0.42. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. Novo Nordisk A/S has a 12-month low of $94.73 and a 12-month high of $148.15. The stock’s 50-day moving average price is $114.32 and its 200 day moving average price is $128.49.

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.