Confluence Investment Management LLC Has $884,000 Stake in Novo Nordisk A/S (NYSE:NVO)

Confluence Investment Management LLC lifted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 2.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,274 shares of the company’s stock after acquiring an additional 220 shares during the period. Confluence Investment Management LLC’s holdings in Novo Nordisk A/S were worth $884,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL bought a new position in shares of Novo Nordisk A/S during the 2nd quarter worth about $25,000. Daiwa Securities Group Inc. bought a new position in Novo Nordisk A/S in the third quarter worth approximately $28,000. Abound Wealth Management grew its stake in Novo Nordisk A/S by 257.4% in the second quarter. Abound Wealth Management now owns 218 shares of the company’s stock valued at $31,000 after acquiring an additional 157 shares during the period. Capital Performance Advisors LLP acquired a new stake in Novo Nordisk A/S in the third quarter valued at approximately $42,000. Finally, Carolina Wealth Advisors LLC bought a new stake in shares of Novo Nordisk A/S during the third quarter valued at approximately $48,000. 11.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on NVO shares. BMO Capital Markets reduced their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Finally, BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $140.20.

Novo Nordisk A/S Stock Up 1.7 %

Novo Nordisk A/S stock opened at $87.52 on Friday. Novo Nordisk A/S has a fifty-two week low of $81.50 and a fifty-two week high of $148.15. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. The firm’s 50-day simple moving average is $104.10 and its 200 day simple moving average is $121.96. The stock has a market cap of $392.75 billion, a PE ratio of 28.32, a price-to-earnings-growth ratio of 1.37 and a beta of 0.40.

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.