Plimoth Trust Co. LLC Makes New Investment in Novo Nordisk A/S (NYSE:NVO)

Plimoth Trust Co. LLC acquired a new position in shares of Novo Nordisk A/S (NYSE:NVO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,645 shares of the company’s stock, valued at approximately $486,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL bought a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at about $25,000. Daiwa Securities Group Inc. bought a new position in Novo Nordisk A/S during the 3rd quarter worth approximately $28,000. Capital Performance Advisors LLP bought a new position in Novo Nordisk A/S during the 3rd quarter worth approximately $42,000. Albion Financial Group UT boosted its stake in Novo Nordisk A/S by 121.4% during the 4th quarter. Albion Financial Group UT now owns 507 shares of the company’s stock worth $44,000 after acquiring an additional 278 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its stake in Novo Nordisk A/S by 82.1% during the 4th quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock worth $46,000 after acquiring an additional 243 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. BMO Capital Markets dropped their target price on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Finally, UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $145.25.

Novo Nordisk A/S Stock Performance

NVO stock traded down $0.01 during midday trading on Wednesday, reaching $85.18. 686,640 shares of the company were exchanged, compared to its average volume of 9,496,421. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75. The business has a 50-day moving average price of $94.75 and a two-hundred day moving average price of $114.02. Novo Nordisk A/S has a one year low of $78.17 and a one year high of $148.15. The firm has a market capitalization of $382.25 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 0.90 and a beta of 0.45.

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.