Peddock Capital Advisors LLC Raises Position in Novo Nordisk A/S (NYSE:NVO)

Peddock Capital Advisors LLC raised its position in shares of Novo Nordisk A/S (NYSE:NVO) by 36.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,687 shares of the company’s stock after acquiring an additional 2,047 shares during the quarter. Peddock Capital Advisors LLC’s holdings in Novo Nordisk A/S were worth $795,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jennison Associates LLC lifted its position in Novo Nordisk A/S by 100.3% during the third quarter. Jennison Associates LLC now owns 23,419,405 shares of the company’s stock worth $2,129,761,000 after buying an additional 11,727,507 shares in the last quarter. Polen Capital Management LLC acquired a new stake in Novo Nordisk A/S during the third quarter worth about $718,995,000. FMR LLC increased its holdings in shares of Novo Nordisk A/S by 122.7% during the 3rd quarter. FMR LLC now owns 12,077,501 shares of the company’s stock worth $1,098,328,000 after buying an additional 6,654,614 shares during the last quarter. Morgan Stanley increased its stake in Novo Nordisk A/S by 96.5% during the third quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock worth $838,021,000 after acquiring an additional 4,526,199 shares during the last quarter. Finally, Loomis Sayles & Co. L P grew its holdings in shares of Novo Nordisk A/S by 91.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company’s stock worth $827,354,000 after purchasing an additional 4,350,862 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price target on the stock. UBS Group began coverage on Novo Nordisk A/S in a research note on Tuesday, January 16th. They set a “neutral” rating on the stock. BMO Capital Markets began coverage on Novo Nordisk A/S in a research note on Friday, April 12th. They issued an “outperform” rating and a $163.00 price objective for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Thursday, April 18th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $133.60.

Novo Nordisk A/S Stock Down 0.3 %

Shares of Novo Nordisk A/S stock traded down $0.36 on Wednesday, reaching $126.93. 2,441,572 shares of the company were exchanged, compared to its average volume of 4,814,132. The stock’s 50 day moving average price is $127.33 and its 200-day moving average price is $113.50. The company has a market cap of $569.60 billion, a P/E ratio of 43.89, a price-to-earnings-growth ratio of 1.93 and a beta of 0.43. Novo Nordisk A/S has a 1-year low of $75.56 and a 1-year high of $138.28. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50.

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.