Confluence Investment Management LLC Increases Holdings in Novo Nordisk A/S (NYSE:NVO)

Confluence Investment Management LLC increased its stake in Novo Nordisk A/S (NYSE:NVO) by 2.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 10,274 shares of the company’s stock after buying an additional 220 shares during the quarter. Confluence Investment Management LLC’s holdings in Novo Nordisk A/S were worth $884,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Natixis Advisors LLC boosted its stake in Novo Nordisk A/S by 2.7% in the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock valued at $366,125,000 after acquiring an additional 80,070 shares during the last quarter. Zions Bancorporation N.A. raised its holdings in shares of Novo Nordisk A/S by 57.0% in the 3rd quarter. Zions Bancorporation N.A. now owns 18,535 shares of the company’s stock worth $2,207,000 after purchasing an additional 6,726 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in 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 valued at $34,463,000 after purchasing an additional 37,346 shares during the last quarter. LRI Investments LLC grew its holdings in Novo Nordisk A/S by 103.4% during the third quarter. LRI Investments LLC now owns 12,884 shares of the company’s stock valued at $1,534,000 after purchasing an additional 6,550 shares during the period. Finally, Destination Wealth Management increased its position in Novo Nordisk A/S by 5.8% in the third quarter. Destination Wealth Management now owns 158,898 shares of the company’s stock worth $18,920,000 after buying an additional 8,780 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Up 1.7 %

Shares of Novo Nordisk A/S stock opened at $87.52 on Friday. The company’s 50-day moving average price is $104.10 and its 200-day moving average price is $121.96. 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 has a 12-month low of $81.50 and a 12-month high of $148.15. The company has a market cap of $392.75 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 1.37 and a beta of 0.40.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NVO. BMO Capital Markets dropped their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Finally, BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. One equities research 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. Based on data from MarketBeat, Novo Nordisk A/S currently has an average rating of “Buy” and an average price target of $140.20.

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.