Sax Wealth Advisors LLC Takes Position in Novo Nordisk A/S (NYSE:NVO)

Sax Wealth Advisors LLC acquired a new position in shares of Novo Nordisk A/S (NYSE:NVO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,440 shares of the company’s stock, valued at approximately $382,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its stake in Novo Nordisk A/S by 10,608.4% in the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after buying an additional 1,796,635 shares in the last quarter. DSM Capital Partners LLC boosted its stake in shares of Novo Nordisk A/S by 257,816.0% in the 2nd quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after purchasing an additional 1,593,303 shares in the last quarter. Mediolanum International Funds Ltd bought a new position in shares of Novo Nordisk A/S during the 3rd quarter valued at $98,765,000. Marshall Wace LLP raised its position in Novo Nordisk A/S by 34,472.1% in the 2nd quarter. Marshall Wace LLP now owns 691,441 shares of the company’s stock worth $98,696,000 after purchasing an additional 689,441 shares during the period. Finally, Wellington Management Group LLP bought a new stake in Novo Nordisk A/S in the third quarter worth $42,017,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Down 5.2 %

NYSE:NVO opened at $78.74 on Friday. 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. The company has a 50-day moving average price of $97.76 and a 200-day moving average price of $117.23. The stock has a market cap of $353.33 billion, a price-to-earnings ratio of 25.48, a P/E/G ratio of 0.92 and a beta of 0.45.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NVO. BMO Capital Markets reduced their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Finally, UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $140.20.

Novo Nordisk A/S 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.