Ascent Group LLC Boosts Position in Novo Nordisk A/S (NYSE:NVO)

Ascent Group LLC boosted its holdings in Novo Nordisk A/S (NYSE:NVO) by 1.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 23,155 shares of the company’s stock after buying an additional 286 shares during the period. Ascent Group LLC’s holdings in Novo Nordisk A/S were worth $2,757,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NVO. Benjamin Edwards Inc. grew its position in Novo Nordisk A/S by 643.8% in the third quarter. Benjamin Edwards Inc. now owns 25,697 shares of the company’s stock valued at $3,060,000 after acquiring an additional 22,242 shares in the last quarter. B&L Asset Management LLC acquired a new stake in Novo Nordisk A/S in the third quarter valued at approximately $6,901,000. Encompass More Asset Management grew its position in Novo Nordisk A/S by 14.4% in the third quarter. Encompass More Asset Management now owns 2,269 shares of the company’s stock valued at $270,000 after acquiring an additional 285 shares in the last quarter. Kolinsky Wealth Management LLC grew its position in Novo Nordisk A/S by 4.1% in the third quarter. Kolinsky Wealth Management LLC now owns 7,351 shares of the company’s stock valued at $875,000 after acquiring an additional 289 shares in the last quarter. Finally, Flow Traders U.S. LLC grew its position in Novo Nordisk A/S by 788.9% in the third quarter. Flow Traders U.S. LLC now owns 24,792 shares of the company’s stock valued at $2,952,000 after acquiring an additional 22,003 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NVO. 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 reissued an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. Finally, BMO Capital Markets decreased their price target 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. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $108.70 on Tuesday. The company has a market cap of $487.77 billion, a PE ratio of 35.18, a P/E/G ratio of 1.38 and a beta of 0.40. The company has a fifty day moving average price of $112.81 and a two-hundred day moving average price of $127.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75. Novo Nordisk A/S has a 12 month low of $94.73 and a 12 month 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.