Zions Bancorporation N.A. Boosts Stock Position in Novo Nordisk A/S (NYSE:NVO)

Zions Bancorporation N.A. increased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 57.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,535 shares of the company’s stock after purchasing an additional 6,726 shares during the quarter. Zions Bancorporation N.A.’s holdings in Novo Nordisk A/S were worth $2,207,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its holdings in Novo Nordisk A/S by 14.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock valued at $34,463,000 after buying an additional 37,346 shares during the period. Private Wealth Partners LLC lifted its stake in shares of Novo Nordisk A/S by 155.1% in the 3rd 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 in the last quarter. Buckingham Capital Management Inc. acquired a new position in shares of Novo Nordisk A/S in the 3rd quarter valued at about $3,874,000. Channel Wealth LLC lifted its stake in shares of Novo Nordisk A/S by 15.6% in the 3rd quarter. Channel Wealth LLC now owns 57,353 shares of the company’s stock valued at $6,829,000 after purchasing an additional 7,756 shares in the last quarter. Finally, Independence Bank of Kentucky lifted its stake in shares of Novo Nordisk A/S by 192.7% in 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. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $105.35 on Friday. The stock’s 50 day moving average price is $119.68 and its 200 day moving average price is $129.92. The firm has a market capitalization of $472.76 billion, a PE ratio of 34.09, a price-to-earnings-growth ratio of 1.31 and a beta of 0.42. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. Novo Nordisk A/S has a one year low of $94.73 and a one year high of $148.15.

Analyst Upgrades and Downgrades

NVO has been the topic of several research analyst reports. StockNews.com raised 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 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Finally, BMO Capital Markets reduced their price target on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target 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.