Centric Wealth Management Acquires 400 Shares of Novo Nordisk A/S (NYSE:NVO)

Centric Wealth Management boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,140 shares of the company’s stock after purchasing an additional 400 shares during the quarter. Centric Wealth Management’s holdings in Novo Nordisk A/S were worth $635,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CNB Bank acquired a new stake in Novo Nordisk A/S during the 4th quarter worth approximately $26,000. Pacific Center for Financial Services lifted its holdings in shares of Novo Nordisk A/S by 100.0% during the third quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock worth $25,000 after buying an additional 135 shares in the last quarter. Valued Wealth Advisors LLC bought a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at about $28,000. Bell Investment Advisors Inc grew its stake in shares of Novo Nordisk A/S by 79.9% in the third quarter. Bell Investment Advisors Inc now owns 286 shares of the company’s stock valued at $26,000 after acquiring an additional 127 shares in the last quarter. Finally, Tyler Stone Wealth Management increased its position in Novo Nordisk A/S by 100.0% during the third quarter. Tyler Stone Wealth Management now owns 292 shares of the company’s stock worth $27,000 after acquiring an additional 146 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NVO has been the subject of a number of recent research reports. UBS Group initiated coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 16th. They issued a “neutral” rating for the company. BMO Capital Markets assumed coverage on Novo Nordisk A/S in a report on Friday, April 12th. They set an “outperform” rating and a $163.00 target price on the stock. Morgan Stanley assumed coverage on Novo Nordisk A/S in a research note on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price target for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Thursday, April 18th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $133.60.

Novo Nordisk A/S Price Performance

Shares of NVO stock traded down $0.44 on Wednesday, reaching $126.85. The company had a trading volume of 2,512,383 shares, compared to its average volume of 4,814,582. The business’s 50-day moving average is $127.33 and its 200 day moving average is $113.50. Novo Nordisk A/S has a one year low of $75.56 and a one year high of $138.28. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $569.24 billion, a PE ratio of 43.89, a price-to-earnings-growth ratio of 1.93 and a beta of 0.43.

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.