Grassi Investment Management Takes Position in Novo Nordisk A/S (NYSE:NVO)

Grassi Investment Management purchased a new stake in shares of Novo Nordisk A/S (NYSE:NVO) during the fourth quarter, Holdings Channel reports. The fund purchased 2,500 shares of the company’s stock, valued at approximately $215,000.

A number of other hedge funds have also recently made changes to their positions in NVO. International Assets Investment Management LLC boosted its stake in shares of Novo Nordisk A/S by 10,608.4% during the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after purchasing an additional 1,796,635 shares in the last quarter. DSM Capital Partners LLC raised its position in shares of Novo Nordisk A/S by 257,816.0% during the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after acquiring an additional 1,593,303 shares during the last quarter. Mediolanum International Funds Ltd bought a new position in shares of Novo Nordisk A/S during the third quarter worth about $98,765,000. Marshall Wace LLP raised its position in shares of Novo Nordisk A/S by 34,472.1% during the second quarter. Marshall Wace LLP now owns 691,441 shares of the company’s stock worth $98,696,000 after acquiring an additional 689,441 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of Novo Nordisk A/S during the third quarter worth about $42,017,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NVO has been the subject of a number of analyst reports. 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. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. BMO Capital Markets lowered their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $140.20.

Novo Nordisk A/S Stock Down 2.3 %

Novo Nordisk A/S stock traded down $1.96 during mid-day trading on Monday, reaching $84.30. The stock had a trading volume of 5,748,342 shares, compared to its average volume of 7,160,108. The firm has a market capitalization of $378.30 billion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 1.37 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 fifty-two week low of $81.50 and a fifty-two week high of $148.15. The stock’s 50-day simple moving average is $100.35 and its 200-day simple moving average is $119.04.

Novo Nordisk A/S 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.