Victory Capital Management Inc. Sells 40,682 Shares of Novo Nordisk A/S (NYSE:NVO)

Victory Capital Management Inc. reduced its holdings in Novo Nordisk A/S (NYSE:NVO) by 50.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,674 shares of the company’s stock after selling 40,682 shares during the quarter. Victory Capital Management Inc.’s holdings in Novo Nordisk A/S were worth $4,724,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 1620 Investment Advisors Inc. purchased a new position in shares of Novo Nordisk A/S during the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL bought a new stake in Novo Nordisk A/S during the second quarter valued at approximately $25,000. Gilliland Jeter Wealth Management LLC lifted its position in Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after purchasing an additional 120 shares during the last quarter. Halpern Financial Inc. lifted its position in Novo Nordisk A/S by 113.0% during the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after purchasing an additional 113 shares during the last quarter. Finally, Abound Wealth Management lifted 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 valued at $31,000 after purchasing an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Novo Nordisk A/S Trading Up 2.4 %

NVO stock opened at $105.07 on Friday. The company has a market capitalization of $471.50 billion, a PE ratio of 34.00, a price-to-earnings-growth ratio of 1.32 and a beta of 0.42. 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 moving average price is $115.48 and its two-hundred day moving average price is $128.79. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94.

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.