Nixon Peabody Trust Co. Purchases New Stake in Novo Nordisk A/S (NYSE:NVO)

Nixon Peabody Trust Co. purchased a new stake in shares of Novo Nordisk A/S (NYSE:NVO) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,074 shares of the company’s stock, valued at approximately $247,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVO. 1620 Investment Advisors Inc. bought a new stake in shares of Novo Nordisk A/S during the 2nd quarter worth about $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Novo Nordisk A/S during the second quarter worth approximately $25,000. Gilliland Jeter Wealth Management LLC boosted its holdings in shares of Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after acquiring an additional 120 shares during the period. Halpern Financial Inc. grew its position in shares of Novo Nordisk A/S by 113.0% in the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after purchasing an additional 113 shares during the last quarter. Finally, Abound Wealth Management increased its stake in shares of Novo Nordisk A/S by 257.4% during the second quarter. Abound Wealth Management now owns 218 shares of the company’s stock worth $31,000 after purchasing an additional 157 shares during the period. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Trading Down 2.0 %

NVO stock traded down $2.03 during trading on Monday, hitting $99.71. The company had a trading volume of 536,485 shares, compared to its average volume of 4,439,821. The stock has a market cap of $447.45 billion, a PE ratio of 32.93, a PEG ratio of 1.31 and a beta of 0.42. The business has a 50-day moving average of $118.58 and a 200-day moving average of $129.59. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. Novo Nordisk A/S has a one year low of $94.73 and a one year high of $148.15.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NVO shares. 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. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets dropped their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $144.50.

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.