D.A. Davidson & CO. Buys 12,399 Shares of Novo Nordisk A/S (NYSE:NVO)

D.A. Davidson & CO. increased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 31.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,212 shares of the company’s stock after purchasing an additional 12,399 shares during the quarter. D.A. Davidson & CO.’s holdings in Novo Nordisk A/S were worth $6,098,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tidal Investments LLC boosted its holdings in shares of Novo Nordisk A/S by 13.1% during the 1st quarter. Tidal Investments LLC now owns 4,146 shares of the company’s stock valued at $532,000 after acquiring an additional 481 shares in the last quarter. Citizens Financial Group Inc. RI increased its stake in shares of Novo Nordisk A/S by 1.5% in the first quarter. Citizens Financial Group Inc. RI now owns 13,904 shares of the company’s stock valued at $1,785,000 after buying an additional 201 shares during the period. Strategic Wealth Partners Ltd. raised its holdings in Novo Nordisk A/S by 13.5% in the 1st quarter. Strategic Wealth Partners Ltd. now owns 2,339 shares of the company’s stock valued at $300,000 after buying an additional 278 shares during the last quarter. First City Capital Management Inc. acquired a new stake in Novo Nordisk A/S during the 1st quarter worth approximately $207,000. Finally, Burney Co. acquired a new position in Novo Nordisk A/S in the 1st quarter valued at approximately $243,000. Institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. BMO Capital Markets cut their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. One investment 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. Based on data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Buy” and an average target price of $144.50.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $106.12 on Thursday. 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 firm’s fifty day simple moving average is $113.80 and its two-hundred day simple moving average is $128.33. Novo Nordisk A/S has a 12 month low of $94.73 and a 12 month high of $148.15. The stock has a market capitalization of $476.22 billion, a P/E ratio of 34.34, a price-to-earnings-growth ratio of 1.35 and a beta of 0.42.

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.