Montecito Bank & Trust Grows Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Montecito Bank & Trust increased its stake in Novo Nordisk A/S (NYSE:NVO) by 17.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,861 shares of the company’s stock after buying 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 & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Cerro Pacific Wealth Advisors LLC raised its position in shares of Novo Nordisk A/S by 33.5% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,301 shares of the company’s stock worth $284,000 after purchasing an additional 828 shares during the last quarter. Apeiron RIA LLC lifted its stake in shares of Novo Nordisk A/S by 25.3% in the fourth quarter. Apeiron RIA LLC now owns 5,935 shares of the company’s stock worth $510,000 after buying an additional 1,199 shares in the last quarter. Verde Capital Management grew its holdings in shares of Novo Nordisk A/S by 115.6% during the fourth quarter. Verde Capital Management now owns 23,904 shares of the company’s stock valued at $2,056,000 after buying an additional 12,815 shares during the last quarter. Red Door Wealth Management LLC raised its holdings in Novo Nordisk A/S by 167.3% in the 4th quarter. Red Door Wealth Management LLC now owns 9,608 shares of the company’s stock worth $826,000 after acquiring an additional 6,013 shares during the last quarter. Finally, Avior Wealth Management LLC raised its holdings in Novo Nordisk A/S by 13.9% in the 4th quarter. Avior Wealth Management LLC now owns 20,597 shares of the company’s stock worth $1,772,000 after acquiring an additional 2,511 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NVO opened at $87.94 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. Novo Nordisk A/S has a 12-month low of $78.17 and a 12-month high of $148.15. The company has a market cap of $394.65 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 0.90 and a beta of 0.45. The company’s 50 day moving average is $95.62 and its 200 day moving average is $115.55.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report 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 note on Sunday, December 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Finally, BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Novo Nordisk A/S currently has an average rating of “Buy” and an average price target of $145.25.

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.