CIBC Asset Management Inc Grows Stake in Novo Nordisk A/S (NYSE:NVO)

CIBC Asset Management Inc boosted its position in shares of Novo Nordisk A/S (NYSE:NVO) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,558 shares of the company’s stock after purchasing an additional 2,494 shares during the quarter. CIBC Asset Management Inc’s holdings in Novo Nordisk A/S were worth $8,194,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. 1620 Investment Advisors Inc. purchased a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at $25,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at $25,000. Gilliland Jeter Wealth Management LLC increased its holdings in shares of Novo Nordisk A/S by 200.0% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after acquiring an additional 120 shares during the period. Halpern Financial Inc. increased its holdings in shares of Novo Nordisk A/S by 113.0% in the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after acquiring an additional 113 shares during the period. Finally, Abound Wealth Management increased its holdings in shares of Novo Nordisk A/S by 257.4% in the 2nd quarter. Abound Wealth Management now owns 218 shares of the company’s stock valued at $31,000 after acquiring an additional 157 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Down 3.4 %

Shares of NVO stock opened at $101.74 on Friday. Novo Nordisk A/S has a 1-year low of $94.73 and a 1-year high of $148.15. The stock’s fifty day moving average price is $118.58 and its 200 day moving average price is $129.59. 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 cap of $456.56 billion, a price-to-earnings ratio of 32.93, a price-to-earnings-growth ratio of 1.31 and a beta of 0.42.

Wall Street Analysts Forecast Growth

NVO has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets dropped their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $144.50.

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.