Sound Income Strategies LLC Increases Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Sound Income Strategies LLC lifted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 82.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 539 shares of the company’s stock after buying an additional 243 shares during the quarter. Sound Income Strategies LLC’s holdings in Novo Nordisk A/S were worth $46,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NVO. Strategic Investment Solutions Inc. IL purchased a new stake in Novo Nordisk A/S in the second quarter valued at $25,000. Daiwa Securities Group Inc. purchased a new stake in shares of Novo Nordisk A/S in the 3rd quarter valued at about $28,000. Capital Performance Advisors LLP acquired a new stake in shares of Novo Nordisk A/S in the 3rd quarter valued at about $42,000. Carolina Wealth Advisors LLC purchased a new position in Novo Nordisk A/S during the 3rd quarter worth approximately $48,000. Finally, M&R Capital Management Inc. increased its position in Novo Nordisk A/S by 260.5% during the third quarter. M&R Capital Management Inc. now owns 411 shares of the company’s stock worth $49,000 after buying an additional 297 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. 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. BMO Capital Markets dropped their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Finally, UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating, six have assigned 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 Up 8.4 %

NVO stock opened at $87.94 on Friday. Novo Nordisk A/S has a one year low of $78.17 and a one year high of $148.15. 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 company has a fifty day moving average of $95.35 and a 200-day moving average of $115.17. The stock has a market capitalization of $394.65 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 0.90 and a beta of 0.45.

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.