Principal Securities Inc. Makes New $2.81 Million Investment in Novo Nordisk A/S (NYSE:NVO)

Principal Securities Inc. acquired a new stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,120 shares of the company's stock, valued at approximately $2,806,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Pacific Center for Financial Services boosted 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 purchasing an additional 135 shares during the period. Bell Investment Advisors Inc boosted its holdings 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 purchasing an additional 127 shares during the period. CNB Bank purchased a new stake in shares of Novo Nordisk A/S during the fourth quarter worth about $26,000. Tyler Stone Wealth Management boosted its holdings 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 purchasing an additional 146 shares during the period. Finally, West Paces Advisors Inc. boosted its holdings in shares of Novo Nordisk A/S by 100.0% during the third quarter. West Paces Advisors Inc. now owns 300 shares of the company's stock worth $27,000 after purchasing an additional 150 shares during the period. Institutional investors own 11.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NVO. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 23rd. They set an "overweight" rating and a $120.00 target price for the company. BMO Capital Markets initiated coverage on shares of Novo Nordisk A/S in a research note on Friday, April 12th. They issued an "outperform" rating and a $163.00 price target for the company. UBS Group initiated coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 16th. They issued a "neutral" rating for the company. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Thursday, April 18th. Two research 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $133.60.

Novo Nordisk A/S Stock Down 0.2 %

Shares of NYSE NVO traded down $0.25 on Friday, reaching $128.41. 3,079,899 shares of the company's stock traded hands, compared to its average volume of 3,983,050. Novo Nordisk A/S has a 12 month low of $75.56 and a 12 month high of $138.28. The business's 50 day simple moving average is $127.61 and its two-hundred day simple moving average is $113.70. The company has a market cap of $576.24 billion, a price-to-earnings ratio of 44.28, a price-to-earnings-growth ratio of 1.96 and a beta of 0.43. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17.

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.

Want to see what other hedge funds are holding NVO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novo Nordisk A/S (NYSE:NVO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.