Novo Nordisk A/S (NYSE:NVO) Stock Position Lifted by Traynor Capital Management Inc.

Traynor Capital Management Inc. boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 4.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 320,162 shares of the company’s stock after purchasing an additional 14,758 shares during the period. Novo Nordisk A/S comprises approximately 1.8% of Traynor Capital Management Inc.’s holdings, making the stock its 9th largest position. Traynor Capital Management Inc.’s holdings in Novo Nordisk A/S were worth $27,540,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new position in Novo Nordisk A/S during the second quarter valued at approximately $25,000. Daiwa Securities Group Inc. bought a new stake in Novo Nordisk A/S in the third quarter worth approximately $28,000. Capital Performance Advisors LLP bought a new stake in Novo Nordisk A/S in the third quarter worth approximately $42,000. Albion Financial Group UT grew its position in Novo Nordisk A/S by 121.4% in the fourth 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 acquired a new stake in shares of Novo Nordisk A/S in the third quarter worth $48,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Down 0.5 %

NVO opened at $80.59 on Thursday. Novo Nordisk A/S has a twelve month low of $78.17 and a twelve month high of $148.15. The firm’s 50-day simple moving average is $96.63 and its 200-day simple moving average is $116.04. 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 cap of $361.65 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 0.89 and a beta of 0.45.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NVO. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. BMO Capital Markets lowered 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 report on Monday, December 23rd. Finally, Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $140.20.

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.