LRI Investments LLC Increases Stake in Novo Nordisk A/S

LRI Investments LLC has significantly increased its investment in Novo Nordisk A/S (NYSE:NVO) by 103.4% during the third quarter, as revealed in their latest filing with the Securities and Exchange Commission. After acquiring an additional 6,550 shares during this period, LRI Investments now holds a total of 12,884 shares of the company’s stock, which is valued at approximately $1,534,000.

Aside from LRI Investments, numerous other hedge funds have also adjusted their positions in Novo Nordisk A/S. For instance, Geller Advisors LLC raised its stake by 3.7% during the same quarter, now owning 12,325 shares valued at about $1,468,000 after purchasing 435 additional shares. Additionally, Y Intercept Hong Kong Ltd established a new investment in Novo Nordisk A/S in the third quarter worth around $4,967,000. Glass Jacobson Investment Advisors LLC has also expanded its holdings by 20.5% and now controls 3,194 shares valued at $380,000, following a purchase of 543 more shares. MML Investors Services LLC boosted its stake by 3.6%, bringing its total to 269,247 shares valued at $32,059,000 after adding 9,376 shares. Lastly, Northeast Financial Consultants Inc increased its position by 13.5%, now owning 2,006 shares worth $239,000 after buying 238 shares in the last quarter. Overall, institutional investors and hedge funds together hold 11.54% of Novo Nordisk A/S stock.

Novo Nordisk A/S Stock Performance

As of Monday, shares of Novo Nordisk A/S (NYSE:NVO) opened at $110.77. The stock has seen a 52-week low of $94.73 and a high of $148.15. The company holds a debt-to-equity ratio of 0.43, with a quick ratio of 0.75 and a current ratio of 0.94. The fifty-day moving average for the stock is $111.31, while the two-hundred-day moving average stands at $127.07. Novo Nordisk A/S has a market capitalization of $497.08 billion, with a price-to-earnings (PE) ratio of 35.85 and a price/earnings to growth (PEG) ratio of 1.41. The stock also has a beta of 0.40, indicating lower volatility compared to the broader market.

Analysts' Ratings and Price Targets

Recent discussions among equity analysts regarding Novo Nordisk A/S have brought various opinions. StockNews.com upgraded the stock from a "buy" rating to a "strong-buy" rating on November 1. BMO Capital Markets revised their price target for Novo Nordisk A/S from $160.00 down to $156.00, maintaining an "outperform" rating as of October 17. Meanwhile, BNP Paribas raised the company's rating to "strong-buy" on December 2. Cantor Fitzgerald reaffirmed an "overweight" rating with a price target set at $160.00 on November 6. Analysis shows that one analyst has given a hold rating, five analysts have assigned buy ratings, and two have issued a strong buy rating. MarketBeat.com indicates that the stock has an average rating of "Buy" with a consensus price target of $150.40.

Company Overview of Novo Nordisk A/S

Novo Nordisk A/S specializes in the research, development, manufacturing, and distribution of pharmaceutical products. The company primarily operates in two segments: Diabetes and Obesity Care, and Rare Disease. It serves various markets including Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and other international locations.

investment, shares, funds, stocks, analysts