Eastern Bank Buys 520 Shares of Novo Nordisk A/S (NYSE:NVO)

Eastern Bank grew its stake in Novo Nordisk A/S (NYSE:NVO) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,450 shares of the company’s stock after purchasing an additional 520 shares during the quarter. Eastern Bank’s holdings in Novo Nordisk A/S were worth $7,781,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Grassi Investment Management bought a new position in shares of Novo Nordisk A/S in the fourth quarter valued at approximately $215,000. JCIC Asset Management Inc. lifted its holdings in shares of Novo Nordisk A/S by 1.8% in the fourth quarter. JCIC Asset Management Inc. now owns 37,207 shares of the company’s stock valued at $3,201,000 after purchasing an additional 665 shares in the last quarter. Cooper Financial Group increased its position in shares of Novo Nordisk A/S by 5.7% during the fourth quarter. Cooper Financial Group now owns 11,072 shares of the company’s stock valued at $952,000 after acquiring an additional 593 shares during the last quarter. Wedmont Private Capital increased its position in shares of Novo Nordisk A/S by 3.0% during the fourth quarter. Wedmont Private Capital now owns 11,450 shares of the company’s stock valued at $988,000 after acquiring an additional 330 shares during the last quarter. Finally, Talbot Financial LLC purchased a new stake in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $4,066,000. Institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. BMO Capital Markets decreased their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $140.20.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO traded down $2.13 during mid-day trading on Monday, hitting $84.13. The company had a trading volume of 6,233,556 shares, compared to its average volume of 7,230,714. The company has a market capitalization of $377.54 billion, a price-to-earnings ratio of 27.23, a P/E/G ratio of 1.37 and a beta of 0.45. Novo Nordisk A/S has a 1 year low of $81.50 and a 1 year 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. The stock’s 50-day moving average price is $100.35 and its 200-day moving average price is $119.04.

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.