Patrick M Sweeney & Associates Inc. Acquires New Shares in Novo Nordisk A/S (NYSE:NVO)

Patrick M Sweeney & Associates Inc. acquired a new position in Novo Nordisk A/S (NYSE:NVO - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,100 shares of the company's stock, valued at approximately $631,000.

Several other large investors also recently added to or reduced their stakes in the business. Xponance Inc. purchased a new position in shares of Novo Nordisk A/S during the 3rd quarter valued at about $248,000. Stratos Wealth Advisors LLC bought a new position in shares of Novo Nordisk A/S in the third quarter worth approximately $237,000. Bank of New York Mellon Corp increased its stake in shares of Novo Nordisk A/S by 97.1% in the third quarter. Bank of New York Mellon Corp now owns 863,598 shares of the company's stock worth $78,536,000 after purchasing an additional 425,392 shares in the last quarter. Brown Advisory Inc. raised its position in shares of Novo Nordisk A/S by 96.0% during the 3rd quarter. Brown Advisory Inc. now owns 107,860 shares of the company's stock valued at $9,809,000 after purchasing an additional 52,830 shares during the period. Finally, Miracle Mile Advisors LLC raised its position in shares of Novo Nordisk A/S by 100.0% during the 3rd quarter. Miracle Mile Advisors LLC now owns 3,346 shares of the company's stock valued at $304,000 after purchasing an additional 1,673 shares during the period. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO traded down $0.58 during midday trading on Wednesday, reaching $126.71. 4,059,590 shares of the stock traded hands, compared to its average volume of 4,830,449. The company'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 debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. The stock has a market capitalization of $568.61 billion, a PE ratio of 43.69, a P/E/G ratio of 1.93 and a beta of 0.43.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NVO shares. UBS Group started coverage on Novo Nordisk A/S in a research note 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 issued an "outperform" rating and a $163.00 price target on the stock. Morgan Stanley started 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 on the stock. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $133.60.

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.