Cabot Wealth Management Inc. Has $9.08 Million Stock Position in Novo Nordisk A/S (NYSE:NVO)

Cabot Wealth Management Inc. boosted its stake in Novo Nordisk A/S (NYSE:NVO) by 7.9% during the first quarter, Holdings Channel reports. The institutional investor owned 130,729 shares of the company’s stock after buying an additional 9,534 shares during the period. Cabot Wealth Management Inc.’s holdings in Novo Nordisk A/S were worth $9,078,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of NVO. Strategic Investment Solutions Inc. IL grew its stake in Novo Nordisk A/S by 2,727.3% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company’s stock valued at $27,000 after buying an additional 300 shares during the last quarter. Park Square Financial Group LLC acquired a new position in Novo Nordisk A/S in the 4th quarter valued at about $29,000. Transce3nd LLC acquired a new position in shares of Novo Nordisk A/S during the 4th quarter worth approximately $33,000. Spirit of America Management Corp NY acquired a new position in shares of Novo Nordisk A/S during the 1st quarter worth approximately $35,000. Finally, CX Institutional acquired a new position in shares of Novo Nordisk A/S during the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NVO. Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Guggenheim lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 17th. Stifel Nicolaus lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. BMO Capital Markets restated a “market perform” rating and set a $64.00 target price (down previously from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Finally, Dbs Bank lowered shares of Novo Nordisk A/S to a “sell” rating in a research report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $112.00.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $73.76 on Friday. The company has a 50 day moving average of $68.41 and a 200-day moving average of $78.69. Novo Nordisk A/S has a 1-year low of $57.00 and a 1-year high of $148.15. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 0.70.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.92. Novo Nordisk A/S had a net margin of 34.52% and a return on equity of 80.94%. The company had revenue of $11.87 billion during the quarter. Research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

About Novo Nordisk A/S

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.