Montecito Bank & Trust Buys 565 Shares of Novo Nordisk A/S (NYSE:NVO)

Montecito Bank & Trust lifted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 17.1% in the fourth quarter, HoldingsChannel reports. The fund owned 3,861 shares of the company’s stock after acquiring an additional 565 shares during the period. Montecito Bank & Trust’s holdings in Novo Nordisk A/S were worth $332,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Novo Nordisk A/S in the second quarter worth $25,000. Daiwa Securities Group Inc. bought a new position in Novo Nordisk A/S in the 3rd quarter worth $28,000. Capital Performance Advisors LLP purchased a new stake in Novo Nordisk A/S in the 3rd quarter worth $42,000. Carolina Wealth Advisors LLC purchased a new position in shares of Novo Nordisk A/S in the third quarter valued at about $48,000. Finally, M&R Capital Management Inc. boosted its stake in shares of Novo Nordisk A/S by 260.5% in the third quarter. M&R Capital Management Inc. now owns 411 shares of the company’s stock worth $49,000 after acquiring an additional 297 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on NVO shares. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Finally, BMO Capital Markets dropped their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. 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.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Trading Up 8.4 %

NVO stock opened at $87.94 on Friday. The firm has a fifty day moving average price of $95.62 and a 200 day moving average price of $115.55. Novo Nordisk A/S has a fifty-two week low of $78.17 and a fifty-two week high of $148.15. The firm has a market cap of $394.65 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 0.90 and a beta of 0.45. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94.

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.