Huntington National Bank Increases Stock Position in Novo Nordisk A/S (NYSE:NVO)

Huntington National Bank grew its stake in Novo Nordisk A/S (NYSE:NVO) by 12.8% during the third quarter, Holdings Channel.com reports. The fund owned 18,209 shares of the company’s stock after acquiring an additional 2,065 shares during the period. Huntington National Bank’s holdings in Novo Nordisk A/S were worth $2,168,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its stake in Novo Nordisk A/S by 14.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock worth $34,463,000 after purchasing an additional 37,346 shares in the last quarter. Private Wealth Partners LLC raised its holdings in shares of Novo Nordisk A/S by 155.1% in the 3rd quarter. Private Wealth Partners LLC now owns 33,203 shares of the company’s stock valued at $3,953,000 after buying an additional 20,188 shares during the period. Buckingham Capital Management Inc. acquired a new position in Novo Nordisk A/S during the 3rd quarter worth about $3,874,000. Channel Wealth LLC boosted its holdings in Novo Nordisk A/S by 15.6% during the 3rd quarter. Channel Wealth LLC now owns 57,353 shares of the company’s stock valued at $6,829,000 after acquiring an additional 7,756 shares during the period. Finally, Independence Bank of Kentucky grew its position in Novo Nordisk A/S by 192.7% in the 3rd quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock valued at $1,368,000 after acquiring an additional 7,565 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on NVO shares. BMO Capital Markets reduced their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $144.50.

Novo Nordisk A/S Stock Down 3.4 %

Shares of NYSE:NVO opened at $101.74 on Friday. 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 fifty-two week low of $94.73 and a fifty-two week high of $148.15. The stock has a market cap of $456.56 billion, a price-to-earnings ratio of 32.93, a price-to-earnings-growth ratio of 1.31 and a beta of 0.42. The firm’s 50 day moving average price is $119.17 and its 200 day moving average price is $129.75.

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.