Novo Nordisk A/S (NYSE:NVO) Position Trimmed by Massachusetts Wealth Management

Massachusetts Wealth Management reduced its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 19.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,550 shares of the company’s stock after selling 600 shares during the quarter. Massachusetts Wealth Management’s holdings in Novo Nordisk A/S were worth $219,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NVO. Quattro Financial Advisors LLC purchased a new position in shares of Novo Nordisk A/S during the 4th quarter valued at $50,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Novo Nordisk A/S by 53.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 729,965 shares of the company’s stock valued at $63,183,000 after purchasing an additional 254,475 shares in the last quarter. Lockheed Martin Investment Management Co. grew its stake in Novo Nordisk A/S by 286.9% in the fourth quarter. Lockheed Martin Investment Management Co. now owns 72,550 shares of the company’s stock valued at $6,241,000 after purchasing an additional 53,800 shares in the last quarter. Hager Investment Management Services LLC acquired a new position in Novo Nordisk A/S in the 4th quarter worth about $46,000. Finally, First Dallas Securities Inc. raised its stake in shares of Novo Nordisk A/S by 17.4% during the 4th quarter. First Dallas Securities Inc. now owns 5,654 shares of the company’s stock worth $486,000 after purchasing an additional 838 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NVO has been the topic of a number of research reports. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. BMO Capital Markets cut their target price on 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Stock Down 0.1 %

Novo Nordisk A/S stock opened at $82.60 on Wednesday. The firm has a market cap of $370.65 billion, a price-to-earnings ratio of 26.73, a P/E/G ratio of 0.93 and a beta of 0.45. The firm has a fifty day moving average price of $92.65 and a two-hundred day moving average price of $112.19. Novo Nordisk A/S has a fifty-two week low of $78.17 and a fifty-two week high of $148.15. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a return on equity of 86.32% and a net margin of 35.03%. As a group, analysts forecast that Novo Nordisk A/S will post 3.16 earnings per share for the current year.

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.