Genesis Private Wealth LLC Invests $252,000 in Novo Nordisk A/S (NYSE:NVO)

Genesis Private Wealth LLC purchased a new position in shares of Novo Nordisk A/S (NYSE:NVO) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,932 shares of the company’s stock, valued at approximately $252,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Novare Capital Management LLC grew its holdings in shares of Novo Nordisk A/S by 3.2% during the third quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock worth $325,000 after buying an additional 85 shares in the last quarter. Rosenberg Matthew Hamilton grew its holdings in shares of Novo Nordisk A/S by 2.5% during the third quarter. Rosenberg Matthew Hamilton now owns 3,812 shares of the company’s stock worth $454,000 after buying an additional 94 shares in the last quarter. Burns J W & Co. Inc. NY grew its holdings in shares of Novo Nordisk A/S by 1.9% during the third quarter. Burns J W & Co. Inc. NY now owns 5,430 shares of the company’s stock worth $647,000 after buying an additional 100 shares in the last quarter. Spinnaker Trust boosted its position in shares of Novo Nordisk A/S by 1.1% in the third quarter. Spinnaker Trust now owns 9,615 shares of the company’s stock worth $1,145,000 after acquiring an additional 100 shares during the last quarter. Finally, Marco Investment Management LLC boosted its position in shares of Novo Nordisk A/S by 1.5% in the third quarter. Marco Investment Management LLC now owns 6,702 shares of the company’s stock worth $798,000 after acquiring an additional 100 shares during the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Up 2.9 %

NVO opened at $80.95 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. Novo Nordisk A/S has a 52-week low of $78.17 and a 52-week high of $148.15. The firm’s 50 day moving average is $97.15 and its 200-day moving average is $116.47. The firm has a market capitalization of $363.25 billion, a P/E ratio of 26.20, a P/E/G ratio of 0.84 and a beta of 0.45.

Analysts Set New Price Targets

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

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.