Mechanics Bank Trust Department Acquires New Position in Novo Nordisk A/S (NYSE:NVO)

Mechanics Bank Trust Department purchased a new position in shares of Novo Nordisk A/S (NYSE:NVO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,588 shares of the company’s stock, valued at approximately $223,000.

Several other hedge funds have also made changes to their positions in NVO. Novare Capital Management LLC lifted its position in shares of Novo Nordisk A/S by 3.2% during the third quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock worth $325,000 after purchasing an additional 85 shares in the last quarter. Steel Grove Capital Advisors LLC lifted its position in shares of Novo Nordisk A/S by 2.3% during the 2nd quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock worth $541,000 after buying an additional 86 shares during the last quarter. Rosenberg Matthew Hamilton lifted its position in Novo Nordisk A/S by 2.5% in the third quarter. Rosenberg Matthew Hamilton now owns 3,812 shares of the company’s stock valued at $454,000 after acquiring an additional 94 shares during the last quarter. Burns J W & Co. Inc. NY boosted its position in shares of Novo Nordisk A/S by 1.9% in the 3rd quarter. Burns J W & Co. Inc. NY now owns 5,430 shares of the company’s stock valued at $647,000 after purchasing an additional 100 shares during the period. Finally, Spinnaker Trust grew its position in shares of Novo Nordisk A/S by 1.1% during the third quarter. Spinnaker Trust now owns 9,615 shares of the company’s stock worth $1,145,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 5.2 %

NYSE NVO opened at $78.74 on Tuesday. The company’s fifty day simple moving average is $97.76 and its 200-day simple moving average is $116.89. The stock has a market cap of $353.33 billion, a P/E ratio of 25.48, a PEG ratio of 0.92 and a beta of 0.45. Novo Nordisk A/S has a 52 week low of $78.17 and a 52 week high of $148.15. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. 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. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. BMO Capital Markets decreased their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Finally, UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price 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.