Cabot Wealth Management Inc. Boosts Holdings in Novo Nordisk A/S $NVO

Cabot Wealth Management Inc. grew its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 7.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 140,721 shares of the company’s stock after acquiring an additional 9,992 shares during the quarter. Cabot Wealth Management Inc.’s holdings in Novo Nordisk A/S were worth $9,713,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in NVO. Copeland Capital Management LLC increased its stake in shares of Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock worth $27,000 after buying an additional 255 shares during the period. North Capital Inc. purchased a new position in shares of Novo Nordisk A/S in the first quarter worth $27,000. Stone House Investment Management LLC purchased a new position in shares of Novo Nordisk A/S in the first quarter worth $30,000. Disciplina Capital Management LLC increased its stake in shares of Novo Nordisk A/S by 162.3% in the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock worth $33,000 after buying an additional 297 shares during the period. Finally, Dagco Inc. purchased a new position in shares of Novo Nordisk A/S in the first quarter worth $35,000. 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 several analyst reports. Rothschild & Co Redburn raised shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 16th. Wall Street Zen cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Morgan Stanley cut shares of Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and cut their price target for the company from $59.00 to $47.00 in a report on Monday, September 29th. HSBC set a $70.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, October 1st. Finally, Zacks Research upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $76.00.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $53.02 on Friday. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $114.19. The stock has a market cap of $236.74 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 2.41 and a beta of 0.68. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The company’s fifty day moving average price is $56.56 and its 200-day moving average price is $62.40.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The firm had revenue of $11.69 billion for the quarter, compared to analysts’ expectations of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. On average, equities analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were paid a $0.4119 dividend. The ex-dividend date was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s payout ratio is presently 22.53%.

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.