2,494 Shares in Novo Nordisk A/S (NYSE:NVO) Bought by Cove Private Wealth LLC

Cove Private Wealth LLC purchased a new stake in shares of Novo Nordisk A/S (NYSE:NVO) during the 4th quarter, HoldingsChannel reports. The firm purchased 2,494 shares of the company’s stock, valued at approximately $215,000.

A number of other hedge funds have also modified their holdings of the company. Stokes Capital Advisors LLC boosted its position in Novo Nordisk A/S by 7.2% in the fourth quarter. Stokes Capital Advisors LLC now owns 13,655 shares of the company’s stock valued at $1,175,000 after buying an additional 920 shares during the last quarter. Bremer Bank National Association boosted its holdings in shares of Novo Nordisk A/S by 1.9% in the 4th quarter. Bremer Bank National Association now owns 49,479 shares of the company’s stock valued at $4,256,000 after acquiring an additional 924 shares during the last quarter. Strong Tower Advisory Services increased its stake in shares of Novo Nordisk A/S by 6.2% in the fourth quarter. Strong Tower Advisory Services now owns 24,991 shares of the company’s stock worth $2,150,000 after acquiring an additional 1,467 shares during the period. Mechanics Bank Trust Department purchased a new position in shares of Novo Nordisk A/S during the fourth quarter worth $223,000. Finally, Annex Advisory Services LLC lifted its position in Novo Nordisk A/S by 4.5% during the fourth quarter. Annex Advisory Services LLC now owns 5,052 shares of the company’s stock valued at $435,000 after purchasing an additional 219 shares during the period. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Trading Down 5.2 %

Shares of NVO stock opened at $78.74 on Monday. The stock has a 50 day simple moving average of $97.76 and a 200-day simple moving average of $117.05. Novo Nordisk A/S has a 1-year low of $78.17 and a 1-year high of $148.15. The company has a market cap of $353.33 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 0.92 and a beta of 0.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NVO shares. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Finally, StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Novo Nordisk A/S has an average rating of “Buy” and an average target price 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.