Montis Financial LLC Decreases Holdings in Novo Nordisk A/S (NYSE:NVO)

Montis Financial LLC cut its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 26.8% in the 1st quarter, HoldingsChannel reports. The firm owned 10,218 shares of the company’s stock after selling 3,741 shares during the quarter. Montis Financial LLC’s holdings in Novo Nordisk A/S were worth $710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. North Star Investment Management Corp. increased its position in shares of Novo Nordisk A/S by 18.2% during the 1st quarter. North Star Investment Management Corp. now owns 20,742 shares of the company’s stock valued at $1,440,000 after purchasing an additional 3,200 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Novo Nordisk A/S by 6.0% in the 1st quarter. Bank of New York Mellon Corp now owns 839,802 shares of the company’s stock worth $58,316,000 after acquiring an additional 47,804 shares during the last quarter. Stanley Laman Group Ltd. purchased a new stake in Novo Nordisk A/S in the 1st quarter worth about $390,000. Dover Advisors LLC purchased a new stake in Novo Nordisk A/S in the 1st quarter worth about $505,000. Finally, Meridian Investment Counsel Inc. increased its holdings in Novo Nordisk A/S by 95.4% in the 4th quarter. Meridian Investment Counsel Inc. now owns 45,697 shares of the company’s stock worth $3,931,000 after acquiring an additional 22,314 shares during the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. BNP Paribas assumed coverage on Novo Nordisk A/S in a report on Tuesday, April 15th. They issued an “underperform” rating for the company. Wall Street Zen upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Dbs Bank downgraded Novo Nordisk A/S to a “sell” rating in a research note on Friday, April 25th. BMO Capital Markets restated a “market perform” rating and issued a $64.00 target price (down previously from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Finally, Hsbc Global Res upgraded Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $112.00.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $67.08 on Thursday. The company has a market cap of $299.50 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 1.29 and a beta of 0.64. The company has a current ratio of 0.74, a quick ratio of 0.56 and a debt-to-equity ratio of 0.70. The stock has a 50-day moving average price of $70.36 and a 200-day moving average price of $74.67. Novo Nordisk A/S has a 12-month low of $57.00 and a 12-month high of $139.74.

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