Grassi Investment Management Purchases New Stake in Novo Nordisk A/S (NYSE:NVO)

Grassi Investment Management purchased a new stake in Novo Nordisk A/S (NYSE:NVO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,500 shares of the company’s stock, valued at approximately $215,000.

A number of other large investors have also added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL bought a new position in Novo Nordisk A/S during the 2nd quarter worth $25,000. Abound Wealth Management increased its position in Novo Nordisk A/S by 257.4% during the 2nd quarter. Abound Wealth Management now owns 218 shares of the company’s stock worth $31,000 after buying an additional 157 shares during the period. Daiwa Securities Group Inc. bought a new position in Novo Nordisk A/S during the 3rd quarter worth $28,000. Capital Performance Advisors LLP bought a new position in Novo Nordisk A/S during the 3rd quarter worth $42,000. Finally, Carolina Wealth Advisors LLC bought a new position in Novo Nordisk A/S during the 3rd quarter worth $48,000. Institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

NVO has been the topic of several recent research reports. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. BMO Capital Markets reduced their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $140.20.

Novo Nordisk A/S Price Performance

NYSE:NVO traded down $1.96 during trading hours on Monday, hitting $84.30. The company’s stock had a trading volume of 5,748,342 shares, compared to its average volume of 7,160,108. The stock has a fifty day simple moving average of $100.35 and a 200-day simple moving average of $119.04. The company has a market capitalization of $378.30 billion, a P/E ratio of 27.28, a PEG ratio of 1.37 and a beta of 0.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75. Novo Nordisk A/S has a twelve month low of $81.50 and a twelve month high of $148.15.

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.