Novo Nordisk A/S (NYSE:NVO) Shares Bought by Adero Partners LLC

Adero Partners LLC raised its stake in Novo Nordisk A/S (NYSE:NVO) by 15.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,948 shares of the company’s stock after purchasing an additional 792 shares during the quarter. Adero Partners LLC’s holdings in Novo Nordisk A/S were worth $708,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in NVO. 1620 Investment Advisors Inc. acquired a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at $25,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Novo Nordisk A/S during the 2nd quarter valued at $25,000. Gilliland Jeter Wealth Management LLC lifted its holdings in shares of 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 valued at $26,000 after acquiring an additional 120 shares in the last quarter. Halpern Financial Inc. lifted its holdings in shares of Novo Nordisk A/S by 113.0% during the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after acquiring an additional 113 shares in the last quarter. Finally, Abound Wealth Management lifted its holdings in shares of Novo Nordisk A/S by 257.4% during the 2nd quarter. Abound Wealth Management now owns 218 shares of the company’s stock valued at $31,000 after acquiring an additional 157 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in 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 report on Thursday, October 17th. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Finally, StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating, six have given 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 has an average rating of “Buy” and an average target price of $144.50.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $101.74 on Friday. Novo Nordisk A/S has a 12-month low of $94.73 and a 12-month high of $148.15. The company has a market capitalization of $456.56 billion, a price-to-earnings ratio of 32.93, a price-to-earnings-growth ratio of 1.31 and a beta of 0.42. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75. The firm’s fifty day moving average price is $118.58 and its 200 day moving average price is $129.59.

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.