Independence Bank of Kentucky Acquires 1,700 Shares of Novo Nordisk A/S (NYSE:NVO)

Independence Bank of Kentucky increased its holdings in Novo Nordisk A/S (NYSE:NVO) by 14.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,190 shares of the company’s stock after purchasing an additional 1,700 shares during the quarter. Independence Bank of Kentucky’s holdings in Novo Nordisk A/S were worth $1,135,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NVO. SeaBridge Investment Advisors LLC bought a new position in shares of Novo Nordisk A/S in the 4th quarter worth $252,000. Chicago Partners Investment Group LLC raised its stake in Novo Nordisk A/S by 7.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 18,788 shares of the company’s stock valued at $1,609,000 after buying an additional 1,283 shares during the last quarter. Clear Creek Financial Management LLC acquired a new stake in Novo Nordisk A/S in the fourth quarter worth about $450,000. GFS Advisors LLC purchased a new stake in shares of Novo Nordisk A/S during the fourth quarter worth about $240,000. Finally, Caprock Group LLC increased its holdings in shares of Novo Nordisk A/S by 1.7% during the fourth quarter. Caprock Group LLC now owns 62,265 shares of the company’s stock valued at $5,356,000 after acquiring an additional 1,013 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NYSE:NVO opened at $84.36 on Friday. The firm’s fifty day moving average is $93.56 and its two-hundred day moving average is $113.22. The firm has a market cap of $378.56 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 0.92 and a beta of 0.45. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. Novo Nordisk A/S has a one year low of $78.17 and a one year high of $148.15.

Wall Street Analyst Weigh In

A number of analysts recently commented on NVO shares. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. Finally, Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $145.25.

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.