Oppenheimer Asset Management Inc. Raises Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Oppenheimer Asset Management Inc. increased its position in Novo Nordisk A/S (NYSE:NVO) by 1.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 393,234 shares of the company’s stock after purchasing an additional 3,758 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $46,822,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisor OS LLC lifted its holdings in shares of Novo Nordisk A/S by 0.6% during the second quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock valued at $1,994,000 after purchasing an additional 82 shares in the last quarter. Cascade Financial Partners LLC lifted its holdings in shares of Novo Nordisk A/S by 2.3% during the second quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock valued at $543,000 after purchasing an additional 84 shares in the last quarter. Novare Capital Management LLC lifted its holdings in shares of Novo Nordisk A/S by 3.2% during the third quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock valued at $325,000 after purchasing an additional 85 shares in the last quarter. AA Financial Advisors LLC lifted its holdings in shares of Novo Nordisk A/S by 3.2% during the second quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock valued at $400,000 after purchasing an additional 86 shares in the last quarter. Finally, Steel Grove Capital Advisors LLC lifted its holdings in shares of Novo Nordisk A/S by 2.3% during the second quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock valued at $541,000 after purchasing an additional 86 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO traded down $0.05 during trading on Wednesday, hitting $107.01. 313,452 shares of the company’s stock were exchanged, compared to its average volume of 4,427,985. 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 has a 52-week low of $94.73 and a 52-week high of $148.15. The business’s 50-day simple moving average is $120.23 and its 200 day simple moving average is $130.08. The company has a market cap of $480.21 billion, a price-to-earnings ratio of 34.64, a PEG ratio of 1.32 and a beta of 0.42.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NVO shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. BMO Capital Markets lowered their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $144.50.

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.