Ridgewood Investments LLC Buys New Shares in Novo Nordisk A/S (NYSE:NVO)

Ridgewood Investments LLC bought a new stake in Novo Nordisk A/S (NYSE:NVO) during the fourth quarter, HoldingsChannel reports. The firm bought 675 shares of the company’s stock, valued at approximately $58,000.

A number of other hedge funds and other institutional investors have also modified their holdings of NVO. International Assets Investment Management LLC increased its position in shares of Novo Nordisk A/S by 10,608.4% in the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after acquiring an additional 1,796,635 shares during the last quarter. DSM Capital Partners LLC grew its holdings in Novo Nordisk A/S by 257,816.0% during the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after purchasing an additional 1,593,303 shares during the period. Mediolanum International Funds Ltd acquired a new position in Novo Nordisk A/S during the third quarter worth approximately $98,765,000. Marshall Wace LLP increased its position in Novo Nordisk A/S by 34,472.1% during the second quarter. Marshall Wace LLP now owns 691,441 shares of the company’s stock worth $98,696,000 after buying an additional 689,441 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in Novo Nordisk A/S during the third quarter worth approximately $42,017,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NVO. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. BMO Capital Markets lowered their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday. Finally, BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $140.20.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock opened at $86.41 on Friday. Novo Nordisk A/S has a 12 month low of $81.50 and a 12 month high of $148.15. The stock’s 50 day moving average is $100.35 and its 200-day moving average is $119.40. 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 company has a market capitalization of $387.77 billion, a price-to-earnings ratio of 27.96, a PEG ratio of 1.37 and a beta of 0.45.

Novo Nordisk A/S 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.