King Luther Capital Management Corp Sells 10,999 Shares of Novo Nordisk A/S (NYSE:NVO)

King Luther Capital Management Corp reduced its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 39.0% in the third quarter, Holdings Channel reports. The firm owned 17,172 shares of the company’s stock after selling 10,999 shares during the period. King Luther Capital Management Corp’s holdings in Novo Nordisk A/S were worth $2,045,000 at the end of the most recent quarter.

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

Novo Nordisk A/S Stock Performance

NVO stock opened at $105.07 on Friday. Novo Nordisk A/S has a one year low of $94.73 and a one year high of $148.15. The firm has a market cap of $471.50 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 1.32 and a beta of 0.42. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. The firm has a 50-day simple moving average of $115.48 and a two-hundred day simple moving average of $128.79.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Finally, 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 on the stock in a report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $144.50.

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.