Cabot Wealth Management Inc. lessened its holdings in Novo Nordisk A/S (NYSE:NVO) by 0.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 113,401 shares of the company’s stock after selling 237 shares during the quarter. Novo Nordisk A/S comprises about 1.3% of Cabot Wealth Management Inc.’s portfolio, making the stock its 29th largest holding. Cabot Wealth Management Inc.’s holdings in Novo Nordisk A/S were worth $5,224,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. First Trust Advisors LP lifted its holdings in shares of Novo Nordisk A/S by 9.5% during the 3rd quarter. First Trust Advisors LP now owns 510,768 shares of the company’s stock worth $24,078,000 after acquiring an additional 44,137 shares during the last quarter. Synovus Financial Corp lifted its stake in Novo Nordisk A/S by 23.3% in the third quarter. Synovus Financial Corp now owns 8,154 shares of the company’s stock worth $385,000 after purchasing an additional 1,539 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Novo Nordisk A/S by 18.5% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 23,421 shares of the company’s stock worth $1,104,000 after purchasing an additional 3,660 shares during the last quarter. Comerica Bank lifted its stake in Novo Nordisk A/S by 2.2% in the third quarter. Comerica Bank now owns 231,818 shares of the company’s stock worth $9,914,000 after purchasing an additional 4,926 shares during the last quarter. Finally, Beaumont Financial Partners LLC lifted its stake in Novo Nordisk A/S by 23.2% in the third quarter. Beaumont Financial Partners LLC now owns 10,504 shares of the company’s stock worth $495,000 after purchasing an additional 1,975 shares during the last quarter. Institutional investors and hedge funds own 6.88% of the company’s stock.
Several research firms have weighed in on NVO. Zacks Investment Research downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Wednesday, February 13th. Barclays reissued a “sell” rating on shares of Novo Nordisk A/S in a research note on Tuesday, February 5th. Handelsbanken downgraded shares of Novo Nordisk A/S from a “buy” rating to an “accumulate” rating and set a $48.61 price target for the company. in a research note on Monday, February 4th. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a research note on Friday, February 1st. They issued an “equal weight” rating for the company. Finally, BNP Paribas assumed coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 29th. They issued an “outperform” rating for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $52.31.
Shares of NYSE NVO opened at $49.68 on Wednesday. Novo Nordisk A/S has a 1 year low of $41.23 and a 1 year high of $51.64. The stock has a market cap of $121.64 billion, a P/E ratio of 19.71, a P/E/G ratio of 2.34 and a beta of 0.68.
Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Friday, February 1st. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.03). Novo Nordisk A/S had a net margin of 34.67% and a return on equity of 80.45%. The company had revenue of $4.55 billion for the quarter, compared to analysts’ expectations of $4.36 billion. As a group, research analysts forecast that Novo Nordisk A/S will post 2.58 EPS for the current fiscal year.
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About Novo Nordisk A/S
Novo Nordisk A/S, a healthcare company, engages in the development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral anti-diabetic products, obesity, and other chronic diseases.
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