Glaxis Capital Management LLC Trims Position in Novo Nordisk A/S (NYSE:NVO)

Glaxis Capital Management LLC lowered its stake in Novo Nordisk A/S (NYSE:NVO) by 65.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,500 shares of the company’s stock after selling 6,500 shares during the quarter. Novo Nordisk A/S makes up 1.6% of Glaxis Capital Management LLC’s portfolio, making the stock its 20th biggest holding. Glaxis Capital Management LLC’s holdings in Novo Nordisk A/S were worth $417,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. 1620 Investment Advisors Inc. purchased a new position in shares of Novo Nordisk A/S during the second quarter valued at about $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Novo Nordisk A/S in the 2nd quarter worth approximately $25,000. Gilliland Jeter Wealth Management LLC lifted its stake in shares of 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 valued at $26,000 after purchasing an additional 120 shares during the period. Halpern Financial Inc. grew its position in shares of Novo Nordisk A/S by 113.0% in the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock worth $30,000 after buying an additional 113 shares during the period. Finally, Abound Wealth Management lifted its position in Novo Nordisk A/S by 257.4% during the 2nd quarter. Abound Wealth Management now owns 218 shares of the company’s stock valued at $31,000 after acquiring an additional 157 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

NYSE NVO opened at $103.17 on Wednesday. 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 52 week low of $94.73 and a 52 week high of $148.15. The firm has a market capitalization of $462.98 billion, a P/E ratio of 33.22, a PEG ratio of 1.31 and a beta of 0.42. The company has a 50-day moving average price of $117.40 and a 200-day moving average price of $129.27.

Analysts Set New Price Targets

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

About Novo Nordisk A/S

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.