Ashton Thomas Private Wealth LLC Grows Stake in Novo Nordisk A/S (NYSE:NVO)

Ashton Thomas Private Wealth LLC lifted its stake in Novo Nordisk A/S (NYSE:NVO) by 7.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 15,910 shares of the company’s stock after acquiring an additional 1,165 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Novo Nordisk A/S were worth $1,894,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in Novo Nordisk A/S by 14.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock valued at $34,463,000 after acquiring an additional 37,346 shares in the last quarter. Private Wealth Partners LLC boosted its stake in shares of Novo Nordisk A/S by 155.1% in the third quarter. Private Wealth Partners LLC now owns 33,203 shares of the company’s stock valued at $3,953,000 after purchasing an additional 20,188 shares during the period. Independence Bank of Kentucky grew its holdings in Novo Nordisk A/S by 192.7% during the 3rd quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock valued at $1,368,000 after purchasing an additional 7,565 shares in the last quarter. Channel Wealth LLC increased its stake in Novo Nordisk A/S by 15.6% during the 3rd quarter. Channel Wealth LLC now owns 57,353 shares of the company’s stock worth $6,829,000 after buying an additional 7,756 shares during the period. Finally, Buckingham Capital Management Inc. purchased a new position in Novo Nordisk A/S in the 3rd quarter valued at about $3,874,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 1.9 %

Shares of NYSE:NVO opened at $107.05 on Wednesday. The company has a 50 day moving average of $120.82 and a 200-day moving average of $130.22. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. The firm has a market cap of $480.39 billion, a P/E ratio of 34.64, a P/E/G ratio of 1.32 and a beta of 0.42. Novo Nordisk A/S has a twelve month low of $94.73 and a twelve month high of $148.15.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. Finally, BMO Capital Markets decreased their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $144.50.

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.