Spire Wealth Management Acquires 3,209 Shares of Novo Nordisk A/S (NYSE:NVO)

Spire Wealth Management increased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 52.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,316 shares of the company’s stock after acquiring an additional 3,209 shares during the quarter. Spire Wealth Management’s holdings in Novo Nordisk A/S were worth $996,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in NVO. Xponance Inc. bought a new stake in shares of Novo Nordisk A/S in the third quarter valued at $248,000. Bank of New York Mellon Corp boosted its stake in Novo Nordisk A/S by 97.1% during the third quarter. Bank of New York Mellon Corp now owns 863,598 shares of the company’s stock worth $78,536,000 after acquiring an additional 425,392 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Novo Nordisk A/S by 118.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 190,605 shares of the company’s stock valued at $17,334,000 after purchasing an additional 103,545 shares in the last quarter. Graypoint LLC bought a new position in Novo Nordisk A/S during the 3rd quarter valued at about $318,000. Finally, CENTRAL TRUST Co grew its stake in shares of Novo Nordisk A/S by 111.6% during the 3rd quarter. CENTRAL TRUST Co now owns 6,004 shares of the company’s stock valued at $546,000 after purchasing an additional 3,166 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Morgan Stanley started coverage on Novo Nordisk A/S in a report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 price target on the stock. BMO Capital Markets assumed 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. 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. Finally, UBS Group initiated coverage on Novo Nordisk A/S in a research report on Tuesday, January 16th. They issued a “neutral” rating for the company. Two investment 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, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average price target of $133.60.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $126.71 on Thursday. The company has a market capitalization of $568.61 billion, a PE ratio of 43.69, a price-to-earnings-growth ratio of 1.93 and a beta of 0.43. Novo Nordisk A/S has a 52 week low of $75.56 and a 52 week 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’s fifty day moving average is $127.33 and its two-hundred day moving average is $113.50.

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.