Bank of America Corp DE boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 3.2% during the first quarter, Holdings Channel reports. The institutional investor owned 12,102,582 shares of the company’s stock after buying an additional 380,536 shares during the period. Bank of America Corp DE’s holdings in Novo Nordisk A/S were worth $414,876,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Perigon Wealth Management LLC bought a new stake in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $105,000. Parallel Advisors LLC increased its stake in shares of Novo Nordisk A/S by 120.3% in the first quarter. Parallel Advisors LLC now owns 2,844 shares of the company’s stock valued at $117,000 after buying an additional 1,553 shares in the last quarter. SRS Capital Advisors Inc. bought a new stake in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $125,000. Advisory Services Network LLC bought a new stake in shares of Novo Nordisk A/S during the first quarter valued at approximately $127,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in shares of Novo Nordisk A/S by 3,609.0% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,709 shares of the company’s stock valued at $127,000 after buying an additional 3,609 shares in the last quarter. 6.38% of the stock is owned by institutional investors and hedge funds.
Shares of Novo Nordisk A/S (NYSE NVO) traded up 1.43% during midday trading on Friday, reaching $43.20. The company had a trading volume of 2,753,595 shares. The company’s 50-day moving average is $41.47 and its 200-day moving average is $36.69. The firm has a market cap of $107.82 billion, a P/E ratio of 18.86 and a beta of 0.67. Novo Nordisk A/S has a 52-week low of $30.89 and a 52-week high of $57.41.
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Several equities research analysts have recently commented on the company. BidaskClub raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Thursday. HSBC Holdings plc downgraded Novo Nordisk A/S from a “hold” rating to a “reduce” rating in a report on Friday, April 7th. Zacks Investment Research raised Novo Nordisk A/S from a “sell” rating to a “hold” rating in a report on Tuesday, April 11th. TheStreet raised Novo Nordisk A/S from a “c+” rating to a “b-” rating in a report on Tuesday, May 2nd. Finally, Barclays PLC assumed coverage on Novo Nordisk A/S in a report on Tuesday, March 7th. They set an “underweight” rating for the company. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Novo Nordisk A/S currently has an average rating of “Hold” and an average target price of $57.00.
Novo Nordisk A/S Company Profile
Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company’s diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs.
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