Diamant Asset Management Inc. Increases Position in Novo Nordisk A/S (NYSE:NVO)

Diamant Asset Management Inc. raised its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 49.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,700 shares of the company’s stock after acquiring an additional 7,835 shares during the period. Novo Nordisk A/S makes up 1.3% of Diamant Asset Management Inc.’s investment portfolio, making the stock its 18th biggest holding. Diamant Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $2,039,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL purchased a new position in Novo Nordisk A/S in the 2nd quarter valued at $25,000. Daiwa Securities Group Inc. acquired a new position in shares of Novo Nordisk A/S during the third quarter worth about $28,000. Capital Performance Advisors LLP acquired a new stake in Novo Nordisk A/S in the third quarter valued at about $42,000. Albion Financial Group UT boosted its holdings in Novo Nordisk A/S by 121.4% in the 4th quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after purchasing an additional 278 shares in the last quarter. Finally, Sound Income Strategies LLC raised its stake in shares of Novo Nordisk A/S by 82.1% during the 4th quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock worth $46,000 after buying an additional 243 shares in the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NVO. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. BMO Capital Markets decreased their price objective on shares of 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. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Finally, Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO opened at $87.45 on Tuesday. The company has a 50-day simple moving average of $95.35 and a 200-day simple moving average of $114.80. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75. The company has a market cap of $392.43 billion, a PE ratio of 28.30, a price-to-earnings-growth ratio of 0.90 and a beta of 0.45. Novo Nordisk A/S has a 12 month low of $78.17 and a 12 month high of $148.15.

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.