Institute for Wealth Management LLC. Increases Holdings in Novo Nordisk A/S (NYSE:NVO)

Institute for Wealth Management LLC. boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 22.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,823 shares of the company’s stock after acquiring an additional 2,881 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Novo Nordisk A/S were worth $1,361,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC raised its holdings in Novo Nordisk A/S by 10,608.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after buying an additional 1,796,635 shares during the period. Mediolanum International Funds Ltd purchased a new stake in shares of Novo Nordisk A/S in the third quarter valued at $98,765,000. Wellington Management Group LLP bought a new stake in shares of Novo Nordisk A/S in the 3rd quarter worth about $42,017,000. World Investment Advisors LLC boosted its stake in shares of Novo Nordisk A/S by 2,655.9% during the 3rd quarter. World Investment Advisors LLC now owns 280,409 shares of the company’s stock worth $33,388,000 after purchasing an additional 270,234 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Novo Nordisk A/S by 71.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 475,490 shares of the company’s stock valued at $57,413,000 after purchasing an additional 198,891 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Up 1.5 %

NYSE:NVO opened at $85.33 on Friday. 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 firm has a market cap of $382.91 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 0.92 and a beta of 0.45. The company has a 50-day moving average of $94.32 and a 200 day moving average of $113.82. Novo Nordisk A/S has a 1-year low of $78.17 and a 1-year high of $148.15.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. BMO Capital Markets decreased their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $145.25.

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.