Meridian Wealth Management LLC Invests $15.11 Million in Novo Nordisk A/S (NYSE:NVO)

Meridian Wealth Management LLC bought a new stake in Novo Nordisk A/S (NYSE:NVO) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 126,886 shares of the company’s stock, valued at approximately $15,108,000. Novo Nordisk A/S comprises approximately 0.7% of Meridian Wealth Management LLC’s portfolio, making the stock its 23rd biggest position.

A number of other institutional investors also recently added to or reduced their stakes in NVO. 1620 Investment Advisors Inc. purchased a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at about $25,000. Gilliland Jeter Wealth Management LLC raised its holdings in Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after purchasing an additional 120 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Novo Nordisk A/S during the 2nd quarter worth approximately $25,000. Halpern Financial Inc. boosted its holdings in shares of Novo Nordisk A/S by 113.0% in the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after buying an additional 113 shares in the last quarter. Finally, Abound Wealth Management grew its position in shares of Novo Nordisk A/S by 257.4% in the 2nd quarter. Abound Wealth Management now owns 218 shares of the company’s stock valued at $31,000 after buying an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

NVO has been the subject of several research analyst reports. 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note 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 research report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $144.50.

Novo Nordisk A/S Trading Down 2.4 %

NYSE:NVO opened at $102.77 on Friday. Novo Nordisk A/S has a 1 year low of $94.73 and a 1 year high of $148.15. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. The stock has a fifty day moving average price of $116.12 and a two-hundred day moving average price of $128.92. The stock has a market capitalization of $461.18 billion, a price-to-earnings ratio of 33.26, a PEG ratio of 1.32 and a beta of 0.42.

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.