Hanson & Doremus Investment Management Grows Holdings in Novo Nordisk A/S (NYSE:NVO)

Hanson & Doremus Investment Management increased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 6,578.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,076 shares of the company’s stock after buying an additional 5,000 shares during the period. Hanson & Doremus Investment Management’s holdings in Novo Nordisk A/S were worth $437,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Plimoth Trust Co. LLC purchased a new position in Novo Nordisk A/S in the 4th quarter valued at approximately $486,000. Iams Wealth Management LLC boosted its holdings in Novo Nordisk A/S by 39.8% in the fourth quarter. Iams Wealth Management LLC now owns 23,772 shares of the company’s stock valued at $2,045,000 after purchasing an additional 6,769 shares during the period. Hantz Financial Services Inc. boosted its holdings in Novo Nordisk A/S by 1.2% in the fourth quarter. Hantz Financial Services Inc. now owns 184,879 shares of the company’s stock valued at $15,903,000 after purchasing an additional 2,104 shares during the period. McKinley Carter Wealth Services Inc. grew its stake in Novo Nordisk A/S by 2.9% during the 4th quarter. McKinley Carter Wealth Services Inc. now owns 64,424 shares of the company’s stock worth $5,542,000 after purchasing an additional 1,797 shares in the last quarter. Finally, SteelPeak Wealth LLC increased its holdings in Novo Nordisk A/S by 70.3% during the 4th quarter. SteelPeak Wealth LLC now owns 7,801 shares of the company’s stock worth $671,000 after purchasing an additional 3,220 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

NVO has been the subject of several recent research reports. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. 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 note on Monday, December 23rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Finally, BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $145.25.

Novo Nordisk A/S Stock Down 1.3 %

Shares of NYSE:NVO opened at $84.05 on Thursday. The firm has a 50 day simple moving average of $94.75 and a 200-day simple moving average of $114.02. Novo Nordisk A/S has a twelve month low of $78.17 and a twelve month high of $148.15. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $377.17 billion, a PE ratio of 27.20, a P/E/G ratio of 0.90 and a beta of 0.45.

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.