Bank of Montreal Can grew its position in Novo Nordisk A/S (NYSE:NVO) by 20.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,554 shares of the company’s stock after buying an additional 27,537 shares during the quarter. Bank of Montreal Can’s holdings in Novo Nordisk A/S were worth $7,568,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Chicago Partners Investment Group LLC increased its position in Novo Nordisk A/S by 762.5% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 3,131 shares of the company’s stock worth $144,000 after purchasing an additional 2,768 shares in the last quarter. Schroder Investment Management Group purchased a new stake in Novo Nordisk A/S during the 2nd quarter worth about $182,000. Stevens Capital Management LP purchased a new stake in Novo Nordisk A/S during the 2nd quarter worth about $202,000. 180 Wealth Advisors LLC purchased a new stake in Novo Nordisk A/S during the 2nd quarter worth about $215,000. Finally, Verition Fund Management LLC purchased a new stake in Novo Nordisk A/S during the 1st quarter worth about $217,000. Institutional investors and hedge funds own 6.70% of the company’s stock.
NVO opened at $42.62 on Tuesday. The stock has a market capitalization of $103.58 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 2.22 and a beta of 0.66. Novo Nordisk A/S has a 12 month low of $41.23 and a 12 month high of $58.37.
Several research firms have commented on NVO. Sanford C. Bernstein upgraded Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a report on Monday, July 2nd. Zacks Investment Research upgraded Novo Nordisk A/S from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Deutsche Bank restated a “buy” rating on shares of Novo Nordisk A/S in a report on Thursday, October 4th. ValuEngine cut Novo Nordisk A/S from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. Finally, Pareto Securities cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Friday, October 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $64.00.
About Novo Nordisk A/S
Novo Nordisk A/S, a healthcare company, engages in the discovery, development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides insulins, GLP-1 and related delivery systems, and oral anti-diabetic drugs and obesity.
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