Aptus Capital Advisors LLC Increases Stock Position in Novo Nordisk A/S (NYSE:NVO)

Aptus Capital Advisors LLC increased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 33.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,774 shares of the company’s stock after buying an additional 940 shares during the period. Aptus Capital Advisors LLC’s holdings in Novo Nordisk A/S were worth $449,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Novo Nordisk A/S by 14.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock worth $34,463,000 after buying an additional 37,346 shares in the last quarter. Private Wealth Partners LLC raised its position in Novo Nordisk A/S by 155.1% during the third quarter. Private Wealth Partners LLC now owns 33,203 shares of the company’s stock worth $3,953,000 after acquiring an additional 20,188 shares during the period. Buckingham Capital Management Inc. acquired a new position in Novo Nordisk A/S during the third quarter worth $3,874,000. Channel Wealth LLC raised its position in Novo Nordisk A/S by 15.6% during the third quarter. Channel Wealth LLC now owns 57,353 shares of the company’s stock worth $6,829,000 after acquiring an additional 7,756 shares during the period. Finally, Independence Bank of Kentucky raised its position in Novo Nordisk A/S by 192.7% during the third quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock worth $1,368,000 after acquiring an additional 7,565 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NVO shares. BMO Capital Markets reduced 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 report on Thursday, October 17th. 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. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $101.74 on Friday. The firm has a 50-day simple moving average of $119.17 and a 200-day simple moving average of $129.75. The stock has a market capitalization of $456.56 billion, a price-to-earnings ratio of 32.93, a price-to-earnings-growth ratio of 1.31 and a beta of 0.42. 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 $94.73 and a 52 week high of $148.15.

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.