Mechanics Bank Trust Department Acquires Shares of 2,588 Novo Nordisk A/S (NYSE:NVO)

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

Other hedge funds have also added to or reduced their stakes in the company. Annex Advisory Services LLC raised its holdings in shares of Novo Nordisk A/S by 4.5% in the 4th quarter. Annex Advisory Services LLC now owns 5,052 shares of the company’s stock valued at $435,000 after acquiring an additional 219 shares in the last quarter. My Legacy Advisors LLC grew its holdings in shares of Novo Nordisk A/S by 2.9% during the 4th quarter. My Legacy Advisors LLC now owns 7,029 shares of the company’s stock valued at $583,000 after purchasing an additional 201 shares during the last quarter. Liberty One Investment Management LLC grew its stake in shares of Novo Nordisk A/S by 27.9% during the fourth quarter. Liberty One Investment Management LLC now owns 2,373 shares of the company’s stock valued at $204,000 after buying an additional 517 shares during the last quarter. Romano Brothers AND Company increased its stake in Novo Nordisk A/S by 12.0% in the 4th quarter. Romano Brothers AND Company now owns 6,328 shares of the company’s stock worth $544,000 after purchasing an additional 680 shares during the period. Finally, Aaron Wealth Advisors LLC increased its stake in shares of Novo Nordisk A/S by 6.9% in the fourth quarter. Aaron Wealth Advisors LLC now owns 21,572 shares of the company’s stock worth $1,856,000 after buying an additional 1,396 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on NVO. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. BMO Capital Markets dropped their target price 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. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Buy” and an average target price of $140.20.

Novo Nordisk A/S Trading Down 5.2 %

Novo Nordisk A/S stock opened at $78.74 on Tuesday. 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 52 week low of $78.17 and a 52 week high of $148.15. The stock has a 50-day moving average price of $97.76 and a 200 day moving average price of $116.89. The company has a market capitalization of $353.33 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 0.92 and a beta of 0.45.

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.