Nixon Peabody Trust Co. Invests $247,000 in Novo Nordisk A/S (NYSE:NVO)

Nixon Peabody Trust Co. purchased a new stake in shares of Novo Nordisk A/S (NYSE:NVO) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,074 shares of the company’s stock, valued at approximately $247,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. GQG Partners LLC raised its holdings in Novo Nordisk A/S by 654.6% during the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after purchasing an additional 3,151,584 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Novo Nordisk A/S by 10,608.4% in the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after purchasing an additional 1,796,635 shares during the last quarter. DSM Capital Partners LLC lifted its stake in Novo Nordisk A/S by 257,816.0% in the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after buying an additional 1,593,303 shares during the period. Mediolanum International Funds Ltd bought a new position in Novo Nordisk A/S during the third quarter worth about $98,765,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Novo Nordisk A/S by 10.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after buying an additional 823,036 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NVO stock traded down $2.03 during trading hours on Monday, reaching $99.71. The stock had a trading volume of 536,485 shares, compared to its average volume of 4,439,821. The stock has a market capitalization of $447.45 billion, a PE ratio of 32.93, a price-to-earnings-growth ratio of 1.31 and a beta of 0.42. The stock has a 50-day simple moving average of $118.58 and a 200 day simple moving average of $129.59. Novo Nordisk A/S has a fifty-two week low of $94.73 and a fifty-two week high of $148.15. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. Finally, BMO Capital Markets dropped their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $144.50.

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.