RIA Advisory Group LLC Buys Shares of 2,360 Novo Nordisk A/S (NYSE:NVO)

RIA Advisory Group LLC acquired a new stake in shares of Novo Nordisk A/S (NYSE:NVO) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 2,360 shares of the company’s stock, valued at approximately $281,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Natixis Advisors LLC grew its position in Novo Nordisk A/S by 2.7% in the 3rd quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after purchasing an additional 80,070 shares during the last quarter. First Long Island Investors LLC acquired a new stake in Novo Nordisk A/S in the 3rd quarter valued at approximately $3,715,000. Birchcreek Wealth Management LLC increased its holdings in shares of Novo Nordisk A/S by 8.3% during the third quarter. Birchcreek Wealth Management LLC now owns 2,542 shares of the company’s stock valued at $303,000 after purchasing an additional 195 shares during the period. Sheaff Brock Investment Advisors LLC lifted its holdings in Novo Nordisk A/S by 4.5% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 3,470 shares of the company’s stock worth $413,000 after purchasing an additional 150 shares during the period. Finally, CIBC Asset Management Inc increased its stake in Novo Nordisk A/S by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 69,558 shares of the company’s stock valued at $8,194,000 after buying an additional 2,494 shares during the period. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Down 3.4 %

Shares of NVO traded down $3.58 during midday trading on Friday, reaching $101.74. 8,076,248 shares of the stock were exchanged, compared to its average volume of 4,457,389. The firm has a 50 day simple moving average of $118.58 and a 200-day simple moving average of $129.58. Novo Nordisk A/S has a 12-month low of $94.73 and a 12-month high of $148.15. The company has a market cap of $456.56 billion, a price-to-earnings ratio of 32.93, a P/E/G 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.

Wall Street Analyst Weigh In

NVO has been the topic of a number of research reports. BMO Capital Markets dropped their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research note 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 analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Buy” and a consensus target price of $144.50.

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.