Pines Wealth Management LLC Purchases New Stake in Novo Nordisk A/S (NYSE:NVO)

Pines Wealth Management LLC acquired a new position in shares of Novo Nordisk A/S (NYSE:NVO) in the 4th quarter, HoldingsChannel reports. The fund acquired 3,833 shares of the company’s stock, valued at approximately $331,000.

Several other large investors also recently made changes to their positions in the business. Novare Capital Management LLC raised its position in Novo Nordisk A/S by 3.2% in the third quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock valued at $325,000 after purchasing an additional 85 shares during the period. Steel Grove Capital Advisors LLC lifted its position in Novo Nordisk A/S by 2.3% during the 2nd quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock worth $541,000 after acquiring an additional 86 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in Novo Nordisk A/S by 2.6% in the 2nd quarter. Benjamin Edwards Inc. now owns 3,455 shares of the company’s stock worth $493,000 after acquiring an additional 87 shares during the period. Rosenberg Matthew Hamilton raised its stake in shares of Novo Nordisk A/S by 2.5% during the third quarter. Rosenberg Matthew Hamilton now owns 3,812 shares of the company’s stock valued at $454,000 after purchasing an additional 94 shares during the period. Finally, Burns J W & Co. Inc. NY lifted its position in shares of Novo Nordisk A/S by 1.9% during the third quarter. Burns J W & Co. Inc. NY now owns 5,430 shares of the company’s stock worth $647,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NVO stock opened at $82.99 on Thursday. The firm has a market cap of $372.42 billion, a P/E ratio of 26.86, a P/E/G ratio of 1.37 and a beta of 0.45. The stock’s 50 day simple moving average is $99.26 and its 200 day simple moving average is $118.18. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. Novo Nordisk A/S has a 12-month low of $80.05 and a 12-month high of $148.15.

Analyst Ratings Changes

A number of equities analysts have commented on NVO shares. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, BMO Capital Markets decreased their price target on shares of 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. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Buy” and an average price target of $140.20.

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.