Patrick M Sweeney & Associates Inc. Invests $631,000 in Novo Nordisk A/S (NYSE:NVO)

Patrick M Sweeney & Associates Inc. acquired a new stake in shares of Novo Nordisk A/S (NYSE:NVO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,100 shares of the company’s stock, valued at approximately $631,000.

A number of other institutional investors also recently bought and sold shares of the company. Xponance Inc. purchased a new position in shares of Novo Nordisk A/S in the third quarter worth approximately $248,000. Stratos Wealth Advisors LLC bought a new stake in shares of Novo Nordisk A/S during the 3rd quarter valued at $237,000. Bank of New York Mellon Corp increased its stake in shares of Novo Nordisk A/S by 97.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 863,598 shares of the company’s stock worth $78,536,000 after purchasing an additional 425,392 shares in the last quarter. Brown Advisory Inc. raised its holdings in Novo Nordisk A/S by 96.0% in the 3rd quarter. Brown Advisory Inc. now owns 107,860 shares of the company’s stock worth $9,809,000 after purchasing an additional 52,830 shares during the period. Finally, Miracle Mile Advisors LLC lifted its position in Novo Nordisk A/S by 100.0% during the third quarter. Miracle Mile Advisors LLC now owns 3,346 shares of the company’s stock valued at $304,000 after purchasing an additional 1,673 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NVO traded down $0.60 during trading on Wednesday, hitting $126.69. 3,250,143 shares of the company traded hands, compared to its average volume of 4,823,868. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17. The company has a market cap of $568.53 billion, a PE ratio of 43.89, a P/E/G ratio of 1.93 and a beta of 0.43. The stock’s 50-day simple moving average is $127.33 and its two-hundred day simple moving average is $113.50. Novo Nordisk A/S has a 1 year low of $75.56 and a 1 year high of $138.28.

Analyst Ratings Changes

A number of analysts have commented on NVO shares. BMO Capital Markets initiated coverage on Novo Nordisk A/S in a research report on Friday, April 12th. They issued an “outperform” rating and a $163.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Thursday, April 18th. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price target for the company. Finally, UBS Group assumed coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 16th. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and an average price target of $133.60.

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.