Meritage Portfolio Management Buys Shares of 46,939 Novo Nordisk A/S (NYSE:NVO)

Meritage Portfolio Management bought a new stake in Novo Nordisk A/S (NYSE:NVO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 46,939 shares of the company’s stock, valued at approximately $2,396,000.

A number of other institutional investors have also added to or reduced their stakes in the business. OmniStar Financial Group Inc. increased its position in shares of Novo Nordisk A/S by 1.7% in the second quarter. OmniStar Financial Group Inc. now owns 65,078 shares of the company’s stock valued at $3,322,000 after buying an additional 1,065 shares in the last quarter. First Trust Advisors LP purchased a new stake in Novo Nordisk A/S during the 2nd quarter worth about $216,000. Fisher Asset Management LLC increased its position in Novo Nordisk A/S by 2.2% during the 2nd quarter. Fisher Asset Management LLC now owns 14,901,234 shares of the company’s stock worth $760,559,000 after purchasing an additional 321,562 shares in the last quarter. Wealthcare Advisory Partners LLC increased its position in Novo Nordisk A/S by 75.6% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 864 shares of the company’s stock worth $44,000 after purchasing an additional 372 shares in the last quarter. Finally, V Wealth Advisors LLC purchased a new stake in Novo Nordisk A/S during the 2nd quarter worth about $216,000. 7.12% of the stock is owned by institutional investors.

NVO traded down $0.40 during midday trading on Friday, hitting $50.27. The company’s stock had a trading volume of 1,943,025 shares, compared to its average volume of 1,759,663. The company has a current ratio of 0.96, a quick ratio of 0.66 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $124.13 billion, a price-to-earnings ratio of 19.95, a P/E/G ratio of 2.32 and a beta of 0.60. The firm has a 50-day simple moving average of $49.54. Novo Nordisk A/S has a 52-week low of $41.23 and a 52-week high of $52.83.

A number of analysts recently commented on NVO shares. Zacks Investment Research upgraded Novo Nordisk A/S from a “sell” rating to a “hold” rating and set a $50.00 price objective for the company in a research report on Monday, July 15th. Pareto Securities upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. UBS Group reiterated a “buy” rating and set a $355.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, June 19th. Credit Suisse Group upgraded Novo Nordisk A/S from a “neutral” rating to an “outperform” rating in a research report on Monday, April 29th. Finally, Deutsche Bank cut Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $52.42 price objective for the company. in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Novo Nordisk A/S presently has an average rating of “Hold” and an average price target of $111.58.

About Novo Nordisk A/S

Novo Nordisk A/S, a healthcare company, engages in the development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral anti-diabetic products, obesity, and other chronic diseases.

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Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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