Novare Capital Management LLC Raises Position in Novo Nordisk A/S (NYSE:NVO)

Novare Capital Management LLC lifted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 25.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,424 shares of the company’s stock after buying an additional 697 shares during the quarter. Novare Capital Management LLC’s holdings in Novo Nordisk A/S were worth $295,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NVO. International Assets Investment Management LLC boosted its position in Novo Nordisk A/S by 10,608.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after buying an additional 1,796,635 shares during the last quarter. Mediolanum International Funds Ltd acquired a new position in shares of Novo Nordisk A/S in the third quarter worth about $98,765,000. Wellington Management Group LLP purchased a new position in Novo Nordisk A/S in the third quarter valued at about $42,017,000. Sanctuary Advisors LLC acquired a new stake in Novo Nordisk A/S during the 2nd quarter valued at approximately $41,646,000. Finally, World Investment Advisors LLC increased its holdings in Novo Nordisk A/S by 2,655.9% during the 3rd quarter. World Investment Advisors LLC now owns 280,409 shares of the company’s stock worth $33,388,000 after purchasing an additional 270,234 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $87.94 on Monday. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The firm has a 50-day simple moving average of $95.35 and a 200 day simple moving average of $114.99. Novo Nordisk A/S has a fifty-two week low of $78.17 and a fifty-two week high of $148.15. The company has a market cap of $394.65 billion, a PE ratio of 28.46, a P/E/G ratio of 0.90 and a beta of 0.45.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NVO shares. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. BMO Capital Markets reduced their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Finally, Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Buy” and a consensus target price of $145.25.

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.