LPL Financial LLC Increases Stake in Novo Nordisk A/S (NYSE:NVO)

LPL Financial LLC boosted its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 3.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,362,782 shares of the company's stock after purchasing an additional 47,496 shares during the quarter. LPL Financial LLC's holdings in Novo Nordisk A/S were worth $162,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Natixis Advisors LLC lifted its position in shares of Novo Nordisk A/S by 2.7% in the 3rd quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company's stock worth $366,125,000 after purchasing an additional 80,070 shares during the period. Zions Bancorporation N.A. grew its stake in shares of Novo Nordisk A/S by 57.0% in the third quarter. Zions Bancorporation N.A. now owns 18,535 shares of the company's stock worth $2,207,000 after acquiring an additional 6,726 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Novo Nordisk A/S by 14.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company's stock worth $34,463,000 after acquiring an additional 37,346 shares during the period. Private Wealth Partners LLC grew its position in Novo Nordisk A/S by 155.1% during the third quarter. Private Wealth Partners LLC now owns 33,203 shares of the company's stock valued at $3,953,000 after buying an additional 20,188 shares during the period. Finally, Buckingham Capital Management Inc. bought a new stake in Novo Nordisk A/S during the third quarter valued at approximately $3,874,000. Institutional investors own 11.54% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NVO. StockNews.com raised shares of Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a report on Friday, November 1st. BMO Capital Markets decreased their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an "outperform" rating on the stock in a research note on Thursday, October 17th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $144.50.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO traded up $2.44 during midday trading on Friday, reaching $105.07. 6,141,343 shares of the stock were exchanged, compared to its average volume of 4,510,829. The firm has a market cap of $471.50 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 1.32 and a beta of 0.42. Novo Nordisk A/S has a twelve month low of $94.73 and a twelve month high of $148.15. The firm has a 50-day simple moving average of $115.48 and a two-hundred day simple moving average of $128.79. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43.

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.