Iams Wealth Management LLC Acquires 6,769 Shares of Novo Nordisk A/S (NYSE:NVO)

Iams Wealth Management LLC raised its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 39.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,772 shares of the company's stock after purchasing an additional 6,769 shares during the quarter. Iams Wealth Management LLC's holdings in Novo Nordisk A/S were worth $2,045,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Xponance Inc. grew its position in Novo Nordisk A/S by 27.6% in the 2nd quarter. Xponance Inc. now owns 2,665 shares of the company's stock worth $380,000 after purchasing an additional 576 shares during the period. AQR Capital Management LLC lifted its position in Novo Nordisk A/S by 110.5% during the second quarter. AQR Capital Management LLC now owns 17,164 shares of the company's stock valued at $2,450,000 after purchasing an additional 9,012 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Novo Nordisk A/S by 2.2% during the second quarter. The Manufacturers Life Insurance Company now owns 131,876 shares of the company's stock valued at $18,824,000 after purchasing an additional 2,817 shares during the period. Sunbelt Securities Inc. increased its position in Novo Nordisk A/S by 1.3% in the second quarter. Sunbelt Securities Inc. now owns 10,752 shares of the company's stock worth $1,535,000 after buying an additional 138 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its stake in shares of Novo Nordisk A/S by 37.6% in the second quarter. EP Wealth Advisors LLC now owns 65,844 shares of the company's stock worth $9,399,000 after buying an additional 17,982 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

NVO traded down $1.14 during trading on Wednesday, hitting $84.05. 6,837,354 shares of the company traded hands, compared to its average volume of 9,855,109. The company has a market cap of $377.17 billion, a PE ratio of 27.20, a P/E/G ratio of 0.90 and a beta of 0.45. Novo Nordisk A/S has a 1 year low of $78.17 and a 1 year high of $148.15. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. The stock's 50-day simple moving average is $94.75 and its two-hundred day simple moving average is $114.02.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NVO. BMO Capital Markets cut 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 note on Monday, December 23rd. BNP Paribas raised shares of Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, December 2nd. UBS Group upgraded shares of Novo Nordisk A/S from a "sell" rating to a "buy" rating in a research note on Wednesday, January 8th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Finally, StockNews.com downgraded Novo Nordisk A/S from a "strong-buy" rating to a "buy" rating in a research report on Sunday, December 29th. 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 company's stock. According to data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of "Buy" and a consensus price target of $145.25.

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.