Brookmont Capital Management Buys 4,896 Shares of Novo Nordisk A/S (NYSE:NVO)

Brookmont Capital Management boosted its stake in Novo Nordisk A/S (NYSE:NVO) by 12.4% in the fourth quarter, HoldingsChannel reports. The firm owned 44,309 shares of the company’s stock after buying an additional 4,896 shares during the period. Novo Nordisk A/S makes up about 2.0% of Brookmont Capital Management’s portfolio, making the stock its 14th largest position. Brookmont Capital Management’s holdings in Novo Nordisk A/S were worth $3,811,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NVO. Hsbc Holdings PLC increased its holdings in shares of Novo Nordisk A/S by 19.4% during the second quarter. Hsbc Holdings PLC now owns 54,804 shares of the company’s stock valued at $7,852,000 after acquiring an additional 8,922 shares in the last quarter. AE Wealth Management LLC increased its stake in Novo Nordisk A/S by 161.5% during the 2nd quarter. AE Wealth Management LLC now owns 19,319 shares of the company’s stock valued at $2,758,000 after purchasing an additional 11,930 shares in the last quarter. Epoch Investment Partners Inc. increased its stake in Novo Nordisk A/S by 4.5% during the 2nd quarter. Epoch Investment Partners Inc. now owns 14,132 shares of the company’s stock valued at $2,017,000 after purchasing an additional 614 shares in the last quarter. Gabelli Funds LLC raised its holdings in Novo Nordisk A/S by 35.7% during the second quarter. Gabelli Funds LLC now owns 46,963 shares of the company’s stock worth $6,703,000 after buying an additional 12,363 shares during the last quarter. Finally, DRW Securities LLC bought a new position in shares of Novo Nordisk A/S in the second quarter valued at $1,298,000. 11.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on NVO. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Buy” and an average target price of $140.20.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $78.74 on Tuesday. The stock has a 50 day moving average of $97.76 and a 200 day moving average of $116.89. The company has a market capitalization of $353.33 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 0.84 and a beta of 0.45. Novo Nordisk A/S has a 12 month low of $78.17 and a 12 month high of $148.15. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43.

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.