Novo Nordisk A/S (NYSE:NVO) Shares Purchased by Red Door Wealth Management LLC

Red Door Wealth Management LLC lifted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 167.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,608 shares of the company’s stock after purchasing an additional 6,013 shares during the quarter. Red Door Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $826,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NVO. Raymond James & Associates lifted its position in shares of Novo Nordisk A/S by 1.0% during the 3rd quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock valued at $419,939,000 after acquiring an additional 36,223 shares during the period. Natixis Advisors LLC raised its holdings in Novo Nordisk A/S by 2.7% during the third 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. International Assets Investment Management LLC boosted its position in Novo Nordisk A/S by 10,608.4% during the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after purchasing an additional 1,796,635 shares in the last quarter. DSM Capital Partners LLC increased its position in shares of Novo Nordisk A/S by 257,816.0% in the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after buying an additional 1,593,303 shares in the last quarter. Finally, LPL Financial LLC raised its stake in shares of Novo Nordisk A/S by 3.6% during the 3rd quarter. LPL Financial LLC now owns 1,362,782 shares of the company’s stock worth $162,266,000 after buying an additional 47,496 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NVO stock opened at $81.36 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. The stock’s fifty day moving average is $96.10 and its two-hundred day moving average is $115.79. The stock has a market capitalization of $365.09 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 0.89 and a beta of 0.45. Novo Nordisk A/S has a 1 year low of $78.17 and a 1 year high of $148.15.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NVO. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. BMO Capital Markets dropped their target price on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Finally, StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Novo Nordisk A/S has a consensus rating of “Buy” and a consensus target price of $145.25.

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.