Zions Bancorporation N.A. Buys 6,726 Shares of Novo Nordisk A/S (NYSE:NVO)

Zions Bancorporation N.A. increased its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 57.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,535 shares of the company's stock after buying an additional 6,726 shares during the quarter. Zions Bancorporation N.A.'s holdings in Novo Nordisk A/S were worth $2,207,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Hourglass Capital LLC raised its position in Novo Nordisk A/S by 0.9% during the third quarter. Hourglass Capital LLC now owns 15,620 shares of the company's stock valued at $1,860,000 after buying an additional 140 shares during the period. Huntington National Bank increased its position in Novo Nordisk A/S by 12.8% in the 3rd quarter. Huntington National Bank now owns 18,209 shares of the company's stock worth $2,168,000 after purchasing an additional 2,065 shares during the last quarter. Fortis Capital Management LLC increased its position in Novo Nordisk A/S by 5.6% in the 3rd quarter. Fortis Capital Management LLC now owns 34,849 shares of the company's stock worth $4,149,000 after purchasing an additional 1,855 shares during the last quarter. Main Street Financial Solutions LLC increased its position in Novo Nordisk A/S by 11.5% in the 3rd quarter. Main Street Financial Solutions LLC now owns 3,681 shares of the company's stock worth $438,000 after purchasing an additional 381 shares during the last quarter. Finally, Schrum Private Wealth Management LLC increased its position in Novo Nordisk A/S by 100.0% in the 3rd quarter. Schrum Private Wealth Management LLC now owns 4,804 shares of the company's stock worth $572,000 after purchasing an additional 2,402 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company's stock.

Wall Street Analyst Weigh In

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

Novo Nordisk A/S Price Performance

NVO stock traded down $3.58 during midday trading on Friday, reaching $101.74. 8,050,568 shares of the company's stock traded hands, compared to its average volume of 4,457,389. The company has a 50-day simple moving average of $119.17 and a two-hundred day simple moving average of $129.75. Novo Nordisk A/S has a 1-year low of $94.73 and a 1-year high of $148.15. The company has a market cap of $456.56 billion, a price-to-earnings ratio of 32.66, a PEG ratio of 1.31 and a beta of 0.42. 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 Company 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.