Novo Nordisk A/S (NYSE:NVO) Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its position in Novo Nordisk A/S (NYSE:NVO) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,660 shares of the company’s stock after purchasing an additional 2,166 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Novo Nordisk A/S were worth $9,485,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. 1620 Investment Advisors Inc. purchased a new position in Novo Nordisk A/S in the second quarter valued at about $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Novo Nordisk A/S during the 2nd quarter valued at about $25,000. Gilliland Jeter Wealth Management LLC lifted its position in Novo Nordisk A/S by 200.0% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after acquiring an additional 120 shares in the last quarter. Halpern Financial Inc. lifted its position in Novo Nordisk A/S by 113.0% during the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock worth $30,000 after acquiring an additional 113 shares in the last quarter. Finally, Abound Wealth Management boosted its holdings in Novo Nordisk A/S by 257.4% in the 2nd quarter. Abound Wealth Management now owns 218 shares of the company’s stock worth $31,000 after acquiring an additional 157 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $106.15 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. The stock has a market capitalization of $476.35 billion, a price-to-earnings ratio of 34.35, a PEG ratio of 1.35 and a beta of 0.42. Novo Nordisk A/S has a one year low of $94.73 and a one year high of $148.15. The company’s 50-day simple moving average is $114.32 and its 200-day simple moving average is $128.49.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NVO shares. BMO Capital Markets reduced their target price on shares of 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 reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a 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 analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $144.50.

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.