Novo Nordisk A/S (NYSE:NVO) Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC decreased its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 0.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,598 shares of the company’s stock after selling 100 shares during the quarter. Welch & Forbes LLC’s holdings in Novo Nordisk A/S were worth $2,234,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacific Center for Financial Services boosted its stake in Novo Nordisk A/S by 100.0% in the 3rd quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock worth $25,000 after buying an additional 135 shares during the last quarter. Bell Investment Advisors Inc raised its stake in Novo Nordisk A/S by 79.9% during the third quarter. Bell Investment Advisors Inc now owns 286 shares of the company’s stock worth $26,000 after purchasing an additional 127 shares during the period. CNB Bank acquired a new position in shares of Novo Nordisk A/S in the 4th quarter valued at $26,000. Tyler Stone Wealth Management grew its stake in shares of Novo Nordisk A/S by 100.0% during the 3rd quarter. Tyler Stone Wealth Management now owns 292 shares of the company’s stock valued at $27,000 after buying an additional 146 shares during the period. Finally, West Paces Advisors Inc. increased its holdings in shares of Novo Nordisk A/S by 100.0% during the 3rd quarter. West Paces Advisors Inc. now owns 300 shares of the company’s stock worth $27,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. UBS Group started coverage on Novo Nordisk A/S in a report on Tuesday, January 16th. They issued a “neutral” rating on the stock. Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Thursday, April 18th. Finally, BMO Capital Markets initiated coverage on shares of Novo Nordisk A/S in a report on Friday, April 12th. They set an “outperform” rating and a $163.00 target price on the stock. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and a consensus target price of $133.60.

Novo Nordisk A/S Stock Up 2.2 %

Shares of NVO stock traded up $2.69 on Tuesday, hitting $127.28. The stock had a trading volume of 4,166,287 shares, compared to its average volume of 4,840,792. Novo Nordisk A/S has a 52-week low of $75.56 and a 52-week high of $138.28. The firm has a market capitalization of $571.17 billion, a price-to-earnings ratio of 43.89, a P/E/G ratio of 1.93 and a beta of 0.43. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70. The stock’s 50 day moving average is $127.33 and its 200-day moving average is $113.50.

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.