Pinnacle Financial Partners Inc Grows Stake in Novo Nordisk A/S (NYSE:NVO)

Pinnacle Financial Partners Inc lifted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 7.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,773 shares of the company’s stock after purchasing an additional 4,396 shares during the period. Pinnacle Financial Partners Inc’s holdings in Novo Nordisk A/S were worth $7,951,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of NVO. 1620 Investment Advisors Inc. purchased a new position in shares of Novo Nordisk A/S during the 2nd quarter valued at $25,000. Gilliland Jeter Wealth Management LLC boosted its position in Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after purchasing an additional 120 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in shares of Novo Nordisk A/S in the second quarter worth about $25,000. Orion Capital Management LLC bought a new stake in shares of Novo Nordisk A/S in the first quarter valued at approximately $26,000. Finally, Halpern Financial Inc. lifted its stake in shares of Novo Nordisk A/S by 113.0% during the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after buying an additional 113 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 0.1 %

NVO stock opened at $106.93 on Thursday. The company’s 50 day moving average is $120.23 and its 200 day moving average is $130.08. The stock has a market cap of $479.83 billion, a price-to-earnings ratio of 34.60, a price-to-earnings-growth ratio of 1.29 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. Novo Nordisk A/S has a 1-year low of $94.73 and a 1-year high of $148.15.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. BMO Capital Markets lowered their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Finally, StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target 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.