FARMERS & MERCHANTS TRUST Co OF LONG BEACH Increases Stock Position in Novo Nordisk A/S (NYSE:NVO)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its position in shares of Novo Nordisk A/S (NYSE:NVO) by 7.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,246 shares of the company’s stock after purchasing 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Novo Nordisk A/S by 245.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 68,477 shares of the company’s stock valued at $6,227,000 after purchasing an additional 48,678 shares in the last quarter. Bank of Nova Scotia bought a new position in shares of Novo Nordisk A/S in the 3rd quarter worth approximately $263,000. Toronto Dominion Bank grew its position in shares of Novo Nordisk A/S by 93.3% during the 3rd quarter. Toronto Dominion Bank now owns 45,912 shares of the company’s stock valued at $4,175,000 after acquiring an additional 22,165 shares during the period. Ancora Advisors LLC lifted its position in shares of Novo Nordisk A/S by 100.0% during the 3rd quarter. Ancora Advisors LLC now owns 2,538 shares of the company’s stock valued at $231,000 after buying an additional 1,269 shares in the last quarter. Finally, Waverly Advisors LLC bought a new stake in shares of Novo Nordisk A/S during the 3rd quarter valued at $339,000. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Down 2.1 %

Novo Nordisk A/S stock traded down $2.99 during mid-day trading on Tuesday, reaching $142.43. 3,844,186 shares of the company were exchanged, compared to its average volume of 4,435,680. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70. The firm has a market cap of $639.16 billion, a P/E ratio of 49.28, a PEG ratio of 1.42 and a beta of 0.41. Novo Nordisk A/S has a 12-month low of $75.56 and a 12-month high of $148.15. The business has a fifty day moving average of $135.00 and a 200 day moving average of $123.71.

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

Wall Street Analysts Forecast Growth

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

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.