Ritholtz Wealth Management Buys 2,341 Shares of Novo Nordisk A/S (NYSE:NVO)

Ritholtz Wealth Management raised its holdings in Novo Nordisk A/S (NYSE:NVO) by 2.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 120,826 shares of the company’s stock after buying an additional 2,341 shares during the quarter. Ritholtz Wealth Management’s holdings in Novo Nordisk A/S were worth $10,393,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. International Assets Investment Management LLC boosted its position in shares of Novo Nordisk A/S by 10,608.4% in the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after acquiring an additional 1,796,635 shares during the period. DSM Capital Partners LLC raised its stake in shares of Novo Nordisk A/S by 257,816.0% during the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after acquiring an additional 1,593,303 shares in the last quarter. Mediolanum International Funds Ltd purchased a new position in shares of Novo Nordisk A/S in the third quarter worth $98,765,000. Marshall Wace LLP increased its stake in shares of Novo Nordisk A/S by 34,472.1% in the second quarter. Marshall Wace LLP now owns 691,441 shares of the company’s stock worth $98,696,000 after buying an additional 689,441 shares during the period. Finally, Wellington Management Group LLP purchased a new position in Novo Nordisk A/S during the 3rd quarter valued at $42,017,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $83.26 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. The company has a market cap of $373.61 billion, a PE ratio of 26.94, a P/E/G ratio of 0.92 and a beta of 0.45. The business has a 50-day simple moving average of $98.82 and a two-hundred day simple moving average of $117.93. Novo Nordisk A/S has a fifty-two week low of $80.05 and a fifty-two week high of $148.15.

Analysts Set New Price Targets

A number of research analysts have issued reports on NVO shares. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. BMO Capital Markets lowered their target price on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Finally, UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $140.20.

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.