Tri Ri Asset Management Corp Makes New $17.28 Million Investment in Novo Nordisk A/S (NYSE:NVO)

Tri Ri Asset Management Corp bought a new position in Novo Nordisk A/S (NYSE:NVO) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 145,095 shares of the company’s stock, valued at approximately $17,276,000. Novo Nordisk A/S comprises about 8.8% of Tri Ri Asset Management Corp’s holdings, making the stock its 2nd biggest position.

A number of other hedge funds have also bought and sold shares of the business. 1620 Investment Advisors Inc. bought a new stake in shares of Novo Nordisk A/S during the 2nd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Novo Nordisk A/S during the 2nd quarter valued at about $25,000. Gilliland Jeter Wealth Management LLC grew its stake in shares of Novo Nordisk A/S by 200.0% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after acquiring an additional 120 shares during the period. Daiwa Securities Group Inc. bought a new position in shares of Novo Nordisk A/S during the 3rd quarter valued at approximately $28,000. Finally, Abound Wealth Management grew its stake in shares of Novo Nordisk A/S by 257.4% during the 2nd quarter. Abound Wealth Management now owns 218 shares of the company’s stock valued at $31,000 after acquiring an additional 157 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NVO. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. BMO Capital Markets cut their price objective on 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. Finally, StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $150.40.

Novo Nordisk A/S Stock Down 2.7 %

Shares of NVO opened at $108.63 on Friday. The stock has a market capitalization of $487.48 billion, a price-to-earnings ratio of 35.16, a price-to-earnings-growth ratio of 1.43 and a beta of 0.40. Novo Nordisk A/S has a 1 year low of $96.53 and a 1 year high of $148.15. The business’s 50 day simple moving average is $110.75 and its 200-day simple moving average is $126.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75.

Novo Nordisk A/S Company 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.