Merit Financial Group LLC Has $1.66 Million Stock Position in Novo Nordisk A/S (NYSE:NVO)

Merit Financial Group LLC increased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 121.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,240 shares of the company’s stock after purchasing an additional 10,550 shares during the quarter. Merit Financial Group LLC’s holdings in Novo Nordisk A/S were worth $1,655,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVO. Strategic Investment Solutions Inc. IL purchased a new stake in Novo Nordisk A/S in the second quarter worth about $25,000. Daiwa Securities Group Inc. acquired a new stake in shares of Novo Nordisk A/S in the 3rd quarter worth $28,000. Capital Performance Advisors LLP purchased a new position in Novo Nordisk A/S during the 3rd quarter valued at about $42,000. Carolina Wealth Advisors LLC purchased a new position in Novo Nordisk A/S during the 3rd quarter valued at about $48,000. Finally, M&R Capital Management Inc. boosted its stake in shares of Novo Nordisk A/S by 260.5% in the 3rd quarter. M&R Capital Management Inc. now owns 411 shares of the company’s stock valued at $49,000 after buying an additional 297 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock opened at $78.74 on Tuesday. The company’s 50 day moving average price is $97.76 and its two-hundred day moving average price is $116.89. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. Novo Nordisk A/S has a 52 week low of $78.17 and a 52 week high of $148.15. The stock has a market cap of $353.33 billion, a P/E ratio of 25.48, a P/E/G ratio of 0.92 and a beta of 0.45.

Analysts Set New Price Targets

NVO has been the subject of a number of research reports. BMO Capital Markets reduced their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $140.20.

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.