Palisade Asset Management LLC Grows Stock Position in Novo Nordisk A/S (NYSE:NVO)

Palisade Asset Management LLC grew its position in shares of Novo Nordisk A/S (NYSE:NVO) by 12.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,518 shares of the company’s stock after purchasing an additional 382 shares during the period. Palisade Asset Management LLC’s holdings in Novo Nordisk A/S were worth $364,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NVO. CNB Bank purchased a new position in shares of Novo Nordisk A/S during the 4th quarter valued at approximately $26,000. Pacific Center for Financial Services increased its position in shares of Novo Nordisk A/S by 100.0% in the 3rd quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Valued Wealth Advisors LLC acquired a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at about $28,000. Bell Investment Advisors Inc grew its stake in Novo Nordisk A/S by 79.9% in the third quarter. Bell Investment Advisors Inc now owns 286 shares of the company’s stock worth $26,000 after purchasing an additional 127 shares in the last quarter. Finally, Tyler Stone Wealth Management increased 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 valued at $27,000 after buying an additional 146 shares during the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NVO has been the subject of a number of research analyst reports. UBS Group assumed coverage on Novo Nordisk A/S in a report on Tuesday, January 16th. They issued a “neutral” rating for the company. Morgan Stanley started coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price target on the stock. BMO Capital Markets began coverage on shares of Novo Nordisk A/S in a research note on Friday, April 12th. They set an “outperform” rating and a $163.00 price objective on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and a consensus price target of $133.60.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO traded up $2.69 during midday trading on Tuesday, hitting $127.28. 4,166,287 shares of the company’s stock were exchanged, compared to its average volume of 4,840,792. Novo Nordisk A/S has a twelve month low of $75.56 and a twelve month high of $138.28. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. The firm has a market cap of $571.17 billion, a P/E ratio of 43.89, a PEG ratio of 1.93 and a beta of 0.43. The stock’s 50 day moving average price is $127.33 and its 200-day moving average price is $113.50.

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.