Heirloom Wealth Management Buys 5,538 Shares of Novo Nordisk A/S (NYSE:NVO)

Heirloom Wealth Management lifted its position in Novo Nordisk A/S (NYSE:NVO) by 7.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 80,148 shares of the company’s stock after acquiring an additional 5,538 shares during the quarter. Novo Nordisk A/S comprises approximately 2.1% of Heirloom Wealth Management’s portfolio, making the stock its 16th largest holding. Heirloom Wealth Management’s holdings in Novo Nordisk A/S were worth $6,894,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in NVO. International Assets Investment Management LLC grew its position in Novo Nordisk A/S by 10,608.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after purchasing an additional 1,796,635 shares in the last quarter. Mediolanum International Funds Ltd purchased a new position in shares of Novo Nordisk A/S in the 3rd quarter worth approximately $98,765,000. Wellington Management Group LLP bought a new position in shares of Novo Nordisk A/S in the third quarter valued at approximately $42,017,000. Sanctuary Advisors LLC purchased a new stake in shares of Novo Nordisk A/S during the second quarter valued at approximately $41,646,000. Finally, World Investment Advisors LLC lifted its holdings in Novo Nordisk A/S by 2,655.9% during the third quarter. World Investment Advisors LLC now owns 280,409 shares of the company’s stock worth $33,388,000 after acquiring an additional 270,234 shares during the period. 11.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NVO shares. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. 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. Sanford C. Bernstein raised shares of 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 issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Finally, BMO Capital Markets reduced their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $145.25.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $87.94 on Monday. The business’s fifty day moving average is $95.35 and its 200 day moving average is $114.80. The firm has a market cap of $394.65 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 0.90 and a beta of 0.45. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. Novo Nordisk A/S has a 52-week low of $78.17 and a 52-week high of $148.15.

Novo Nordisk A/S Company Profile

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.