Spire Wealth Management Increases Position in Novo Nordisk A/S (NYSE:NVO)

Spire Wealth Management grew its position in shares of Novo Nordisk A/S (NYSE:NVO) by 52.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,316 shares of the company’s stock after purchasing an additional 3,209 shares during the period. Spire Wealth Management’s holdings in Novo Nordisk A/S were worth $996,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVO. Pacific Center for Financial Services boosted its stake in shares of Novo Nordisk A/S by 100.0% during the 3rd quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. Bell Investment Advisors Inc lifted its stake in shares of Novo Nordisk A/S by 79.9% in the 3rd quarter. Bell Investment Advisors Inc now owns 286 shares of the company’s stock valued at $26,000 after purchasing an additional 127 shares during the period. CNB Bank purchased a new stake in Novo Nordisk A/S in the fourth quarter worth $26,000. Tyler Stone Wealth Management raised its holdings in Novo Nordisk A/S by 100.0% in the third quarter. Tyler Stone Wealth Management now owns 292 shares of the company’s stock worth $27,000 after purchasing an additional 146 shares in the last quarter. Finally, West Paces Advisors Inc. boosted its holdings in shares of Novo Nordisk A/S by 100.0% during the 3rd quarter. West Paces Advisors Inc. now owns 300 shares of the company’s stock valued at $27,000 after buying an additional 150 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Down 0.5 %

NVO opened at $126.71 on Thursday. Novo Nordisk A/S has a 1-year low of $75.56 and a 1-year high of $138.28. The firm’s 50 day simple moving average is $127.33 and its two-hundred day simple moving average is $113.50. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $568.61 billion, a PE ratio of 43.69, a PEG ratio of 1.93 and a beta of 0.43.

Analyst Ratings Changes

Several research analysts have recently issued reports on NVO shares. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Thursday, April 18th. BMO Capital Markets initiated coverage on Novo Nordisk A/S in a research report on Friday, April 12th. They set an “outperform” rating and a $163.00 price objective on the stock. Finally, UBS Group started coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 16th. They set a “neutral” rating on the stock. Two research analysts have 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.60.

Novo Nordisk A/S Company 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.