Novo Nordisk A/S (NYSE:NVO) Stock Position Increased by Novare Capital Management LLC

Novare Capital Management LLC raised its position in shares of Novo Nordisk A/S (NYSE:NVO) by 25.6% in the fourth quarter, HoldingsChannel reports. The firm owned 3,424 shares of the company’s stock after acquiring an additional 697 shares during the period. Novare Capital Management LLC’s holdings in Novo Nordisk A/S were worth $295,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of NVO. Xponance Inc. increased its position in Novo Nordisk A/S by 27.6% in the 2nd quarter. Xponance Inc. now owns 2,665 shares of the company’s stock valued at $380,000 after acquiring an additional 576 shares during the period. AQR Capital Management LLC increased its holdings in shares of Novo Nordisk A/S by 110.5% during the second quarter. AQR Capital Management LLC now owns 17,164 shares of the company’s stock valued at $2,450,000 after purchasing an additional 9,012 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Novo Nordisk A/S by 2.2% during the second quarter. The Manufacturers Life Insurance Company now owns 131,876 shares of the company’s stock valued at $18,824,000 after purchasing an additional 2,817 shares in the last quarter. Scientech Research LLC acquired a new stake in Novo Nordisk A/S in the second quarter worth about $467,000. Finally, Ascent Group LLC grew its position in Novo Nordisk A/S by 19.1% in the 2nd quarter. Ascent Group LLC now owns 22,869 shares of the company’s stock valued at $3,264,000 after buying an additional 3,670 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on NVO shares. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. BMO Capital Markets cut their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Finally, UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Stock Performance

NVO opened at $87.94 on Monday. The business has a fifty day simple moving average of $95.35 and a 200-day simple moving average of $114.99. The firm has a market cap of $394.65 billion, a PE ratio of 28.46, a P/E/G ratio of 0.90 and a beta of 0.45. 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 fifty-two week low of $78.17 and a fifty-two week high of $148.15.

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.