Spire Wealth Management Reduces Stock Position in Novo Nordisk A/S (NYSE:NVO)

Spire Wealth Management reduced its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 37.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,884 shares of the company’s stock after selling 7,190 shares during the quarter. Spire Wealth Management’s holdings in Novo Nordisk A/S were worth $1,022,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Natixis Advisors LLC lifted its stake in shares of Novo Nordisk A/S by 2.7% during the 3rd quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock valued at $366,125,000 after buying an additional 80,070 shares in the last quarter. Norman Fields Gottscho Capital Management LLC lifted its stake in shares of Novo Nordisk A/S by 45.3% during the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 63,732 shares of the company’s stock valued at $5,482,000 after buying an additional 19,870 shares in the last quarter. Versant Capital Management Inc purchased a new stake in shares of Novo Nordisk A/S during the 4th quarter valued at approximately $86,000. Talbot Financial LLC purchased a new stake in Novo Nordisk A/S in the 4th quarter worth approximately $4,066,000. Finally, Zions Bancorporation N.A. lifted its stake in Novo Nordisk A/S by 57.0% in the 3rd quarter. Zions Bancorporation N.A. now owns 18,535 shares of the company’s stock worth $2,207,000 after purchasing an additional 6,726 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $82.60 on Wednesday. The firm’s fifty day moving average price is $93.12 and its 200-day moving average price is $112.54. 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 stock has a market cap of $370.65 billion, a P/E ratio of 26.73, a price-to-earnings-growth ratio of 0.93 and a beta of 0.45. Novo Nordisk A/S has a fifty-two week low of $78.17 and a fifty-two week high of $148.15.

Analysts Set New Price Targets

NVO has been the topic of several recent analyst reports. 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. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research note 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. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Finally, BMO Capital Markets lowered their target price 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. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Buy” and a consensus price target of $145.25.

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.