Wesbanco Bank Inc. Buys 19,224 Shares of Novo Nordisk A/S (NYSE:NVO)

Wesbanco Bank Inc. boosted its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 22.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 103,116 shares of the company’s stock after buying an additional 19,224 shares during the quarter. Wesbanco Bank Inc.’s holdings in Novo Nordisk A/S were worth $8,870,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NVO. Strategic Investment Solutions Inc. IL acquired a new position in Novo Nordisk A/S during the 2nd quarter valued at about $25,000. Daiwa Securities Group Inc. acquired a new position in Novo Nordisk A/S during the 3rd quarter valued at about $28,000. Capital Performance Advisors LLP purchased a new stake in Novo Nordisk A/S during the 3rd quarter valued at about $42,000. Albion Financial Group UT grew its stake in Novo Nordisk A/S by 121.4% during the 4th quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after purchasing an additional 278 shares during the last quarter. Finally, Carolina Wealth Advisors LLC purchased a new stake in Novo Nordisk A/S during the 3rd quarter valued at about $48,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NVO shares. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. BMO Capital Markets lowered their target price on 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. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. One equities 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $140.20.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock opened at $80.59 on Thursday. The business has a 50 day simple moving average of $96.63 and a two-hundred day simple moving average of $116.04. Novo Nordisk A/S has a 12 month low of $78.17 and a 12 month high of $148.15. The stock has a market capitalization of $361.65 billion, a P/E ratio of 26.08, a PEG ratio of 0.89 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.

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.