Bridgefront Capital LLC Buys New Holdings in Novo Nordisk A/S (NYSE:NVO)

Bridgefront Capital LLC purchased a new position in shares of Novo Nordisk A/S (NYSE:NVO) during the fourth quarter, HoldingsChannel reports. The firm purchased 3,963 shares of the company’s stock, valued at approximately $341,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Victory Capital Management Inc. boosted its holdings in shares of Novo Nordisk A/S by 58.5% during the fourth quarter. Victory Capital Management Inc. now owns 62,897 shares of the company’s stock worth $5,410,000 after acquiring an additional 23,223 shares during the period. Bryn Mawr Capital Management LLC boosted its stake in Novo Nordisk A/S by 358.8% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 38,898 shares of the company’s stock valued at $3,346,000 after purchasing an additional 30,420 shares during the period. Talbot Financial LLC acquired a new position in Novo Nordisk A/S in the 4th quarter valued at $4,066,000. Clear Creek Financial Management LLC acquired a new stake in shares of Novo Nordisk A/S during the fourth quarter worth $450,000. Finally, DSM Capital Partners LLC grew its stake in shares of Novo Nordisk A/S by 16.7% in the fourth quarter. DSM Capital Partners LLC now owns 2,007,412 shares of the company’s stock valued at $172,678,000 after acquiring an additional 286,912 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NVO. Dbs Bank cut shares of Novo Nordisk A/S to a “sell” rating in a research note on Friday, April 25th. BMO Capital Markets restated a “market perform” rating and set a $64.00 price objective (down previously from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Guggenheim downgraded Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 17th. BNP Paribas began coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an “underperform” rating for the company. Finally, UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and an average target price of $135.00.

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $67.49 on Thursday. The firm’s fifty day moving average price is $70.14 and its two-hundred day moving average price is $86.94. The stock has a market cap of $302.88 billion, a PE ratio of 20.51, a PEG ratio of 0.90 and a beta of 0.65. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. Novo Nordisk A/S has a fifty-two week low of $57.00 and a fifty-two week high of $148.15.

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.