Pines Wealth Management LLC Invests $331,000 in Novo Nordisk A/S (NYSE:NVO)

Pines Wealth Management LLC acquired a new stake in Novo Nordisk A/S (NYSE:NVO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,833 shares of the company’s stock, valued at approximately $331,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its position in shares of Novo Nordisk A/S by 2.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 77,494 shares of the company’s stock worth $11,061,000 after buying an additional 1,860 shares in the last quarter. Pekin Hardy Strauss Inc. raised its position in Novo Nordisk A/S by 20.1% during the second quarter. Pekin Hardy Strauss Inc. now owns 7,165 shares of the company’s stock worth $1,023,000 after acquiring an additional 1,200 shares during the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of Novo Nordisk A/S by 16.1% in the second quarter. Axxcess Wealth Management LLC now owns 27,715 shares of the company’s stock valued at $3,956,000 after purchasing an additional 3,834 shares in the last quarter. Financial & Tax Architects LLC increased its stake in shares of Novo Nordisk A/S by 35.2% during the 2nd quarter. Financial & Tax Architects LLC now owns 3,991 shares of the company’s stock worth $570,000 after purchasing an additional 1,039 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT raised its position in shares of Novo Nordisk A/S by 4.6% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 67,244 shares of the company’s stock worth $9,598,000 after purchasing an additional 2,977 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on NVO. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Cantor Fitzgerald reiterated 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 reduced their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Buy” and a consensus target price of $140.20.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $82.99 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. The firm has a market capitalization of $372.42 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 1.37 and a beta of 0.45. Novo Nordisk A/S has a one year low of $80.05 and a one year high of $148.15. The company has a 50 day moving average price of $99.26 and a 200 day moving average price of $118.18.

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.