GM Advisory Group LLC Takes Position in Novo Nordisk A/S (NYSE:NVO)

GM Advisory Group LLC acquired a new position in shares of Novo Nordisk A/S (NYSE:NVO) in the third quarter, HoldingsChannel reports. The fund acquired 2,833 shares of the company’s stock, valued at approximately $337,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Natixis Advisors LLC grew its position in shares of Novo Nordisk A/S by 2.7% during the 3rd 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 during the period. Zions Bancorporation N.A. boosted its stake in Novo Nordisk A/S by 57.0% during the 3rd 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 last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Novo Nordisk A/S by 14.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock valued at $34,463,000 after purchasing an additional 37,346 shares during the period. Private Wealth Partners LLC increased its stake in Novo Nordisk A/S by 155.1% in the third quarter. Private Wealth Partners LLC now owns 33,203 shares of the company’s stock valued at $3,953,000 after purchasing an additional 20,188 shares in the last quarter. Finally, Buckingham Capital Management Inc. acquired a new stake in Novo Nordisk A/S in the third quarter worth $3,874,000. Institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NVO shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Finally, BMO Capital Markets lowered their price target on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Price Performance

NVO stock opened at $105.07 on Friday. The stock has a 50-day moving average price of $115.48 and a two-hundred day moving average price of $128.79. Novo Nordisk A/S has a 1 year low of $94.73 and a 1 year high of $148.15. The stock has a market cap of $471.50 billion, a PE ratio of 34.00, a price-to-earnings-growth ratio of 1.32 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43.

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.