StrongBox Wealth LLC Makes New Investment in Novo Nordisk A/S (NYSE:NVO)

StrongBox Wealth LLC purchased a new stake in Novo Nordisk A/S (NYSE:NVO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,274 shares of the company's stock, valued at approximately $282,000.

Several other hedge funds have also added to or reduced their stakes in NVO. Raymond James & Associates boosted its stake in Novo Nordisk A/S by 1.0% in the 3rd quarter. Raymond James & Associates now owns 3,526,821 shares of the company's stock valued at $419,939,000 after purchasing an additional 36,223 shares during the period. Natixis Advisors LLC lifted its holdings in shares of Novo Nordisk A/S by 2.7% during the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company's stock worth $366,125,000 after buying an additional 80,070 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Novo Nordisk A/S by 10,608.4% in 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 acquiring an additional 1,796,635 shares during the period. DSM Capital Partners LLC grew its stake in shares of Novo Nordisk A/S by 257,816.0% in the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company's stock valued at $227,516,000 after acquiring an additional 1,593,303 shares in the last quarter. Finally, LPL Financial LLC increased its position in Novo Nordisk A/S by 3.6% during the third quarter. LPL Financial LLC now owns 1,362,782 shares of the company's stock worth $162,266,000 after acquiring an additional 47,496 shares during the period. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Price Performance

Shares of NVO stock traded up $0.34 during trading hours on Thursday, reaching $83.26. The company's stock had a trading volume of 6,320,240 shares, compared to its average volume of 8,102,344. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. Novo Nordisk A/S has a fifty-two week low of $80.05 and a fifty-two week high of $148.15. The company has a market capitalization of $373.61 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 0.92 and a beta of 0.45. The firm's 50 day simple moving average is $98.82 and its 200-day simple moving average is $117.93.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. BMO Capital Markets cut their price objective on shares of 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. Cantor Fitzgerald reissued an "overweight" rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. Sanford C. Bernstein raised Novo Nordisk A/S from an "underperform" rating to a "market perform" rating in a report on Monday, January 6th. StockNews.com lowered Novo Nordisk A/S from a "strong-buy" rating to a "buy" rating in a report on Sunday, December 29th. Finally, UBS Group upgraded Novo Nordisk A/S from a "sell" rating to a "buy" rating in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $140.20.

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.