Apollon Wealth Management LLC Boosts Position in Novo Nordisk A/S (NYSE:NVO)

Apollon Wealth Management LLC increased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 2.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 38,835 shares of the company’s stock after acquiring an additional 906 shares during the quarter. Apollon Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $4,624,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Novo Nordisk A/S by 14.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock worth $34,463,000 after purchasing an additional 37,346 shares during the period. Private Wealth Partners LLC raised its stake in shares of Novo Nordisk A/S by 155.1% in the 3rd quarter. Private Wealth Partners LLC now owns 33,203 shares of the company’s stock valued at $3,953,000 after acquiring an additional 20,188 shares during the period. Independence Bank of Kentucky lifted its holdings in shares of Novo Nordisk A/S by 192.7% in the 3rd quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock worth $1,368,000 after acquiring an additional 7,565 shares during the last quarter. Channel Wealth LLC lifted its stake in Novo Nordisk A/S by 15.6% during the third quarter. Channel Wealth LLC now owns 57,353 shares of the company’s stock worth $6,829,000 after purchasing an additional 7,756 shares in the last quarter. Finally, Buckingham Capital Management Inc. purchased a new position in shares of Novo Nordisk A/S during the third quarter worth $3,874,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on NVO. Cantor Fitzgerald reissued 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. BMO Capital Markets reduced their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Stock Down 1.9 %

NVO stock opened at $107.05 on Wednesday. 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 fifty-two week low of $94.73 and a fifty-two week high of $148.15. The firm has a market capitalization of $480.39 billion, a price-to-earnings ratio of 34.64, a PEG ratio of 1.48 and a beta of 0.42. The company’s 50 day moving average price is $120.82 and its 200 day moving average price is $130.22.

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.