Merit Financial Group LLC Increases Holdings in Novo Nordisk A/S (NYSE:NVO)

Merit Financial Group LLC lifted its position in Novo Nordisk A/S (NYSE:NVO) by 68.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,407 shares of the company’s stock after purchasing an additional 3,002 shares during the period. Merit Financial Group LLC’s holdings in Novo Nordisk A/S were worth $766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of NVO. CNB Bank purchased a new stake in shares of Novo Nordisk A/S in the fourth quarter worth $26,000. Pacific Center for Financial Services increased its stake in shares of Novo Nordisk A/S by 100.0% in the third quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares in the last quarter. Valued Wealth Advisors LLC purchased a new stake in shares of Novo Nordisk A/S in the fourth quarter worth $28,000. Bell Investment Advisors Inc boosted its position in shares of Novo Nordisk A/S by 79.9% during the third quarter. Bell Investment Advisors Inc now owns 286 shares of the company’s stock worth $26,000 after acquiring an additional 127 shares during the last quarter. Finally, Tyler Stone Wealth Management boosted its position in shares of 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 last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NVO stock opened at $124.57 on Tuesday. Novo Nordisk A/S has a 12 month low of $75.56 and a 12 month high of $138.28. The company has a 50-day moving average price of $127.22 and a 200 day moving average price of $113.29. The stock has a market cap of $559.01 billion, a PE ratio of 42.96, a P/E/G ratio of 1.93 and a beta of 0.43. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17.

Wall Street Analysts Forecast Growth

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

Novo Nordisk A/S 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.