Range Financial Group LLC Purchases New Shares in Novo Nordisk A/S (NYSE:NVO)

Range Financial Group LLC acquired a new position in shares of Novo Nordisk A/S (NYSE:NVO) during the 4th quarter, Holdings Channel.com reports. The fund acquired 9,964 shares of the company’s stock, valued at approximately $857,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Strategic Investment Solutions Inc. IL acquired a new position in Novo Nordisk A/S in the 2nd quarter valued at about $25,000. Daiwa Securities Group Inc. purchased a new stake in shares of Novo Nordisk A/S during the third quarter worth approximately $28,000. Abound Wealth Management lifted its holdings in shares of Novo Nordisk A/S by 257.4% during the second quarter. Abound Wealth Management now owns 218 shares of the company’s stock worth $31,000 after purchasing an additional 157 shares during the period. Capital Performance Advisors LLP purchased a new position in Novo Nordisk A/S in the 3rd quarter valued at $42,000. Finally, Carolina Wealth Advisors LLC acquired a new position in Novo Nordisk A/S in the 3rd quarter valued at $48,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVO has been the topic of several analyst reports. StockNews.com downgraded 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 Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. BMO Capital Markets lowered their price target on shares of 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. Finally, BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $140.20.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock traded down $1.84 on Tuesday, hitting $83.19. The company’s stock had a trading volume of 9,557,972 shares, compared to its average volume of 6,890,428. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The firm has a fifty day moving average price of $102.51 and a 200-day moving average price of $120.68. Novo Nordisk A/S has a 52-week low of $81.50 and a 52-week high of $148.15. The company has a market capitalization of $373.32 billion, a P/E ratio of 26.92, a price-to-earnings-growth ratio of 1.37 and a beta of 0.45.

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.