FARMERS & MERCHANTS TRUST Co OF LONG BEACH Has $417,000 Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its position in Novo Nordisk A/S (NYSE:NVO) by 7.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,246 shares of the company’s stock after acquiring an additional 212 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Novo Nordisk A/S were worth $417,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in Novo Nordisk A/S by 245.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 68,477 shares of the company’s stock worth $6,227,000 after purchasing an additional 48,678 shares during the period. Bank of Nova Scotia acquired a new stake in shares of Novo Nordisk A/S during the 3rd quarter valued at about $263,000. Toronto Dominion Bank boosted its holdings in Novo Nordisk A/S by 93.3% during the third quarter. Toronto Dominion Bank now owns 45,912 shares of the company’s stock valued at $4,175,000 after purchasing an additional 22,165 shares in the last quarter. Ancora Advisors LLC raised its holdings in shares of Novo Nordisk A/S by 100.0% in the 3rd quarter. Ancora Advisors LLC now owns 2,538 shares of the company’s stock worth $231,000 after buying an additional 1,269 shares in the last quarter. Finally, Waverly Advisors LLC acquired a new stake in Novo Nordisk A/S in the 3rd quarter valued at $339,000. Institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on NVO. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday. BMO Capital Markets reissued an “outperform” rating and set a $163.00 price target on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. Argus raised their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, The Goldman Sachs Group assumed coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target on the stock. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and an average target price of $145.67.

Novo Nordisk A/S Trading Down 2.1 %

Shares of NVO stock traded down $2.99 on Tuesday, reaching $142.43. 3,844,186 shares of the stock were exchanged, compared to its average volume of 4,435,680. The stock has a 50 day moving average price of $135.00 and a 200 day moving average price of $123.71. The stock has a market cap of $639.16 billion, a PE ratio of 49.28, a P/E/G ratio of 1.42 and a beta of 0.41. Novo Nordisk A/S has a one year low of $75.56 and a one year high of $148.15. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.06. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. The company had revenue of $9.52 billion for the quarter, compared to analyst estimates of $9.23 billion. Equities research analysts forecast that Novo Nordisk A/S will post 3.41 EPS for the current fiscal year.

Novo Nordisk A/S Company 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.