Traynor Capital Management Inc. Purchases 14,758 Shares of Novo Nordisk A/S (NYSE:NVO)

Traynor Capital Management Inc. lifted its position in Novo Nordisk A/S (NYSE:NVO) by 4.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 320,162 shares of the company’s stock after purchasing an additional 14,758 shares during the period. Novo Nordisk A/S makes up approximately 1.8% of Traynor Capital Management Inc.’s investment portfolio, making the stock its 9th biggest holding. Traynor Capital Management Inc.’s holdings in Novo Nordisk A/S were worth $27,540,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new stake in Novo Nordisk A/S during the 2nd quarter worth approximately $25,000. Daiwa Securities Group Inc. bought a new position in shares of Novo Nordisk A/S during the 3rd quarter worth approximately $28,000. Capital Performance Advisors LLP bought a new position in shares of Novo Nordisk A/S during the 3rd quarter worth approximately $42,000. Albion Financial Group UT grew its stake in shares of Novo Nordisk A/S by 121.4% during the 4th quarter. Albion Financial Group UT now owns 507 shares of the company’s stock worth $44,000 after acquiring an additional 278 shares in the last quarter. Finally, Carolina Wealth Advisors LLC bought a new position in shares of Novo Nordisk A/S during the 3rd quarter worth approximately $48,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Finally, BMO Capital Markets dropped their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $140.20.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $80.59 on Thursday. The business has a 50 day moving average of $96.63 and a 200-day moving average of $116.04. Novo Nordisk A/S has a 1 year low of $78.17 and a 1 year high of $148.15. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75. The company has a market capitalization of $361.65 billion, a P/E ratio of 26.08, a P/E/G ratio of 0.89 and a beta of 0.45.

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.