Oppenheimer & Co. Inc. Sells 16,972 Shares of Novo Nordisk A/S (NYSE:NVO)

Oppenheimer & Co. Inc. cut its stake in Novo Nordisk A/S (NYSE:NVO) by 10.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,376 shares of the company’s stock after selling 16,972 shares during the period. Oppenheimer & Co. Inc.’s holdings in Novo Nordisk A/S were worth $17,548,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Pinnacle Financial Partners Inc grew its position in Novo Nordisk A/S by 7.0% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 66,773 shares of the company’s stock worth $7,951,000 after purchasing an additional 4,396 shares during the last quarter. Rossmore Private Capital grew its position in Novo Nordisk A/S by 0.7% during the 3rd quarter. Rossmore Private Capital now owns 23,155 shares of the company’s stock worth $2,757,000 after purchasing an additional 155 shares during the last quarter. MQS Management LLC purchased a new stake in Novo Nordisk A/S during the 3rd quarter worth approximately $363,000. Moser Wealth Advisors LLC grew its position in Novo Nordisk A/S by 8.5% during the 3rd quarter. Moser Wealth Advisors LLC now owns 13,258 shares of the company’s stock worth $1,579,000 after purchasing an additional 1,035 shares during the last quarter. Finally, Dillon & Associates Inc. grew its position in Novo Nordisk A/S by 0.5% during the 3rd quarter. Dillon & Associates Inc. now owns 283,417 shares of the company’s stock worth $33,727,000 after purchasing an additional 1,271 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

NVO has been the topic of several research analyst reports. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald reaffirmed 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 price objective 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 analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO traded down $0.05 during mid-day trading on Wednesday, reaching $107.01. The company’s stock had a trading volume of 313,452 shares, compared to its average volume of 4,427,985. The stock has a 50-day moving average of $120.23 and a two-hundred day moving average of $130.08. The stock has a market capitalization of $480.21 billion, a P/E ratio of 34.64, a P/E/G 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. Novo Nordisk A/S has a 1-year low of $94.73 and a 1-year high of $148.15.

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.