WESPAC Advisors SoCal LLC Takes Position in Novo Nordisk A/S (NYSE:NVO)

WESPAC Advisors SoCal LLC bought a new position in shares of Novo Nordisk A/S (NYSE:NVO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 28,288 shares of the company’s stock, valued at approximately $3,368,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NVO. 1620 Investment Advisors Inc. purchased a new position in shares of Novo Nordisk A/S in the second quarter valued at approximately $25,000. Gilliland Jeter Wealth Management LLC grew its stake in shares of Novo Nordisk A/S by 200.0% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after acquiring an additional 120 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Novo Nordisk A/S during the second quarter worth $25,000. Halpern Financial Inc. raised its stake in shares of Novo Nordisk A/S by 113.0% in the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after acquiring an additional 113 shares in the last quarter. Finally, Abound Wealth Management raised its stake in shares of Novo Nordisk A/S by 257.4% in the second quarter. Abound Wealth Management now owns 218 shares of the company’s stock valued at $31,000 after acquiring an additional 157 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Down 3.4 %

NYSE:NVO opened at $101.74 on Friday. Novo Nordisk A/S has a 1 year low of $94.73 and a 1 year high of $148.15. The stock has a market cap of $456.56 billion, a P/E ratio of 32.93, a P/E/G 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. The stock has a 50-day simple moving average of $118.58 and a 200-day simple moving average of $129.59.

Wall Street Analysts Forecast Growth

NVO has been the topic of several recent research reports. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. 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 note on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $144.50.

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.