Fragasso Financial Advisors Inc Takes Position in Novo Nordisk A/S (NYSE:NVO)

Fragasso Financial Advisors Inc purchased a new stake in shares of Novo Nordisk A/S (NYSE:NVO) in the second quarter, according to its most recent filing with the SEC. The firm purchased 1,593 shares of the company’s stock, valued at approximately $227,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cravens & Co Advisors LLC raised its position in shares of Novo Nordisk A/S by 1.0% during the 1st quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock worth $1,059,000 after purchasing an additional 85 shares during the last quarter. Sage Rhino Capital LLC boosted its position in Novo Nordisk A/S by 0.7% during the 1st quarter. Sage Rhino Capital LLC now owns 12,320 shares of the company’s stock worth $1,582,000 after purchasing an additional 89 shares during the period. U.S. Capital Wealth Advisors LLC boosted its position in Novo Nordisk A/S by 0.6% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 15,421 shares of the company’s stock worth $1,595,000 after purchasing an additional 90 shares during the period. Essex LLC boosted its position in Novo Nordisk A/S by 2.0% during the 1st quarter. Essex LLC now owns 4,684 shares of the company’s stock worth $601,000 after purchasing an additional 90 shares during the period. Finally, JCIC Asset Management Inc. lifted its holdings in Novo Nordisk A/S by 0.3% in the 1st quarter. JCIC Asset Management Inc. now owns 27,552 shares of the company’s stock worth $3,538,000 after buying an additional 90 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on NVO. The Goldman Sachs Group began coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Monday. BMO Capital Markets reiterated an “outperform” rating and issued a $163.00 price objective on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. Finally, Argus boosted their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $145.67.

Novo Nordisk A/S Stock Up 3.3 %

Shares of Novo Nordisk A/S stock traded up $4.11 during trading on Tuesday, reaching $130.11. The company had a trading volume of 6,988,022 shares, compared to its average volume of 4,429,566. The company has a market cap of $583.87 billion, a price-to-earnings ratio of 44.87, a price-to-earnings-growth ratio of 1.33 and a beta of 0.41. The firm’s fifty day moving average is $138.01 and its 200-day moving average is $129.49. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70. Novo Nordisk A/S has a fifty-two week low of $79.65 and a fifty-two week high of $148.15.

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.