Institute for Wealth Management LLC. Raises Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Institute for Wealth Management LLC. raised its stake in Novo Nordisk A/S (NYSE:NVO) by 22.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,823 shares of the company’s stock after purchasing an additional 2,881 shares during the period. Institute for Wealth Management LLC.’s holdings in Novo Nordisk A/S were worth $1,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in NVO. Strategic Investment Solutions Inc. IL acquired a new position in Novo Nordisk A/S during the 2nd quarter valued at about $25,000. Daiwa Securities Group Inc. acquired a new position in shares of Novo Nordisk A/S during the third quarter valued at about $28,000. Capital Performance Advisors LLP purchased a new position in shares of Novo Nordisk A/S in the 3rd quarter valued at approximately $42,000. Carolina Wealth Advisors LLC acquired a new stake in Novo Nordisk A/S in the 3rd quarter worth approximately $48,000. Finally, M&R Capital Management Inc. grew its position in Novo Nordisk A/S by 260.5% during the 3rd quarter. M&R Capital Management Inc. now owns 411 shares of the company’s stock worth $49,000 after purchasing an additional 297 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NVO has been the subject of several research reports. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. UBS Group raised 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 price objective on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Finally, 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. One equities research 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’s stock. According to MarketBeat, Novo Nordisk A/S currently has an average rating of “Buy” and an average target price of $145.25.

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $85.33 on Friday. The firm has a market capitalization of $382.91 billion, a P/E ratio of 27.61, a PEG ratio of 0.92 and a beta of 0.45. The stock has a 50-day simple moving average of $94.32 and a two-hundred day simple moving average of $113.82. 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 fifty-two week low of $78.17 and a fifty-two 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.