Savoie Capital LLC Takes $1.19 Million Position in Novo Nordisk A/S (NYSE:NVO)

Savoie Capital LLC purchased a new position in shares of Novo Nordisk A/S (NYSE:NVO) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 10,000 shares of the company’s stock, valued at approximately $1,191,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Advisor OS LLC increased its stake in shares of Novo Nordisk A/S by 0.6% during the 2nd quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock worth $1,994,000 after purchasing an additional 82 shares during the last quarter. Cascade Financial Partners LLC raised its stake in shares of Novo Nordisk A/S by 2.3% in the second quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock valued at $543,000 after buying an additional 84 shares during the period. Novare Capital Management LLC lifted its holdings in Novo Nordisk A/S by 3.2% during the third quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock valued at $325,000 after purchasing an additional 85 shares during the last quarter. Steel Grove Capital Advisors LLC increased its stake in shares of Novo Nordisk A/S by 2.3% in the second quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock worth $541,000 after purchasing an additional 86 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its position in shares of Novo Nordisk A/S by 2.6% in the second quarter. Benjamin Edwards Inc. now owns 3,455 shares of the company’s stock valued at $493,000 after purchasing an additional 87 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $111.10 on Tuesday. Novo Nordisk A/S has a one year low of $94.73 and a one year high of $148.15. 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 capitalization of $498.56 billion, a price-to-earnings ratio of 35.95, a PEG ratio of 1.41 and a beta of 0.40. The company’s fifty day moving average price is $111.15 and its 200-day moving average price is $126.90.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. BMO Capital Markets decreased their price target on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Buy” and an average target price of $150.40.

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.