Pinnacle Financial Partners Inc Acquires 4,396 Shares of Novo Nordisk A/S (NYSE:NVO)

Pinnacle Financial Partners Inc raised its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 7.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,773 shares of the company’s stock after buying an additional 4,396 shares during the period. Pinnacle Financial Partners Inc’s holdings in Novo Nordisk A/S were worth $7,951,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NVO. Wealth Enhancement Advisory Services LLC grew its position in Novo Nordisk A/S by 14.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock worth $34,463,000 after acquiring an additional 37,346 shares during the last quarter. Private Wealth Partners LLC grew its holdings in shares of Novo Nordisk A/S by 155.1% in the third quarter. Private Wealth Partners LLC now owns 33,203 shares of the company’s stock worth $3,953,000 after purchasing an additional 20,188 shares during the last quarter. Channel Wealth LLC increased its stake in shares of Novo Nordisk A/S by 15.6% in the third quarter. Channel Wealth LLC now owns 57,353 shares of the company’s stock worth $6,829,000 after buying an additional 7,756 shares during the period. Buckingham Capital Management Inc. bought a new stake in Novo Nordisk A/S during the 3rd quarter valued at $3,874,000. Finally, Independence Bank of Kentucky boosted its position in Novo Nordisk A/S by 192.7% during the 3rd quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock valued at $1,368,000 after buying an additional 7,565 shares during the period. 11.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NVO has been the topic of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets cut their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. One research 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Trading Down 0.1 %

NYSE NVO opened at $106.93 on Thursday. The firm has a market capitalization of $479.83 billion, a PE ratio of 34.60, a P/E/G ratio of 1.29 and a beta of 0.42. The stock’s 50 day moving average is $120.23 and its 200 day moving average is $130.08. Novo Nordisk A/S has a twelve month low of $94.73 and a twelve month high of $148.15. 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 Company 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.