Birchcreek Wealth Management LLC Increases Stock Position in Novo Nordisk A/S (NYSE:NVO)

Birchcreek Wealth Management LLC grew its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 8.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,542 shares of the company’s stock after acquiring an additional 195 shares during the period. Birchcreek Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $303,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. 1620 Investment Advisors Inc. purchased a new stake in Novo Nordisk A/S during the 2nd quarter worth $25,000. Gilliland Jeter Wealth Management LLC grew its position in Novo Nordisk A/S by 200.0% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after purchasing an additional 120 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Novo Nordisk A/S in the second quarter valued at approximately $25,000. Orion Capital Management LLC bought a new position in shares of Novo Nordisk A/S in the first quarter valued at approximately $26,000. Finally, Halpern Financial Inc. boosted its holdings in Novo Nordisk A/S by 113.0% during the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock worth $30,000 after buying an additional 113 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Performance

NVO stock traded down $3.63 during trading hours on Friday, reaching $101.69. The stock had a trading volume of 690,363 shares, compared to its average volume of 4,424,134. The stock has a market capitalization of $456.34 billion, a PE ratio of 32.91, 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 stock has a 50-day simple moving average of $119.17 and a 200 day simple moving average of $129.75. Novo Nordisk A/S has a fifty-two week low of $94.73 and a fifty-two week high of $148.15.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NVO shares. BMO Capital Markets decreased their price objective on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. 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. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. One investment 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $144.50.

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.