CIBC Asset Management Inc Buys 2,494 Shares of Novo Nordisk A/S (NYSE:NVO)

CIBC Asset Management Inc grew its stake in Novo Nordisk A/S (NYSE:NVO) by 3.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,558 shares of the company’s stock after acquiring an additional 2,494 shares during the quarter. CIBC Asset Management Inc’s holdings in Novo Nordisk A/S were worth $8,194,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVO. GQG Partners LLC lifted its holdings in shares of Novo Nordisk A/S by 654.6% during the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after purchasing an additional 3,151,584 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Novo Nordisk A/S by 10,608.4% during the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after purchasing an additional 1,796,635 shares in the last quarter. DSM Capital Partners LLC lifted its holdings in shares of Novo Nordisk A/S by 257,816.0% during the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after purchasing an additional 1,593,303 shares in the last quarter. Mediolanum International Funds Ltd bought a new position in shares of Novo Nordisk A/S during the third quarter valued at $98,765,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Novo Nordisk A/S by 10.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock valued at $1,102,857,000 after purchasing an additional 823,036 shares in the last quarter. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Price Performance

Shares of NVO stock opened at $101.74 on Friday. Novo Nordisk A/S has a 52-week low of $94.73 and a 52-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 has a market capitalization of $456.56 billion, a P/E ratio of 32.93, a P/E/G ratio of 1.31 and a beta of 0.42. The stock has a 50 day moving average price of $118.58 and a 200 day moving average price of $129.59.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Cantor Fitzgerald reissued 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, BMO Capital Markets lowered their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $144.50.

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.