Ridgewood Investments LLC Invests $58,000 in Novo Nordisk A/S (NYSE:NVO)

Ridgewood Investments LLC purchased a new position in Novo Nordisk A/S (NYSE:NVO) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 675 shares of the company’s stock, valued at approximately $58,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Natixis Advisors LLC boosted its position in shares of Novo Nordisk A/S by 2.7% in the 3rd quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after purchasing an additional 80,070 shares during the last quarter. Norman Fields Gottscho Capital Management LLC boosted its position in shares of Novo Nordisk A/S by 45.3% in the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 63,732 shares of the company’s stock worth $5,482,000 after purchasing an additional 19,870 shares during the last quarter. Versant Capital Management Inc bought a new position in shares of Novo Nordisk A/S in the 4th quarter worth $86,000. Zions Bancorporation N.A. raised its stake in Novo Nordisk A/S by 57.0% during the 3rd quarter. Zions Bancorporation N.A. now owns 18,535 shares of the company’s stock worth $2,207,000 after buying an additional 6,726 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Novo Nordisk A/S by 14.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock worth $34,463,000 after buying an additional 37,346 shares during the period. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Performance

NVO opened at $86.41 on Friday. The business’s 50-day moving average price is $100.35 and its two-hundred day moving average price is $119.40. Novo Nordisk A/S has a 1 year low of $81.50 and a 1 year high of $148.15. The company has a market capitalization of $387.77 billion, a price-to-earnings ratio of 27.96, a P/E/G ratio of 1.37 and a beta of 0.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75.

Analyst Ratings Changes

Several analysts recently commented on the company. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. BMO Capital Markets dropped their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Finally, BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $140.20.

About Novo Nordisk A/S

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.