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

Cabot Wealth Management Inc. increased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 7.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 140,721 shares of the company’s stock after buying an additional 9,992 shares during the period. Cabot Wealth Management Inc.’s holdings in Novo Nordisk A/S were worth $9,713,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Brighton Jones LLC increased its holdings in Novo Nordisk A/S by 2.5% during the second quarter. Brighton Jones LLC now owns 14,106 shares of the company’s stock worth $974,000 after buying an additional 343 shares during the last quarter. Leavell Investment Management Inc. increased its holdings in Novo Nordisk A/S by 18.6% during the second quarter. Leavell Investment Management Inc. now owns 6,250 shares of the company’s stock worth $431,000 after buying an additional 978 shares during the last quarter. SSA Swiss Advisors AG boosted its position in Novo Nordisk A/S by 27.3% during the second quarter. SSA Swiss Advisors AG now owns 59,901 shares of the company’s stock worth $4,172,000 after purchasing an additional 12,845 shares during the period. Focus Partners Advisor Solutions LLC boosted its position in Novo Nordisk A/S by 16.3% during the second quarter. Focus Partners Advisor Solutions LLC now owns 7,318 shares of the company’s stock worth $504,000 after purchasing an additional 1,024 shares during the period. Finally, Northstar Asset Management Inc. boosted its position in Novo Nordisk A/S by 14.3% during the second quarter. Northstar Asset Management Inc. now owns 169,557 shares of the company’s stock worth $11,703,000 after purchasing an additional 21,181 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on NVO. Hsbc Global Res upgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. BNP Paribas upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research report on Wednesday, August 13th. Morgan Stanley lowered shares of Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and cut their target price for the stock from $59.00 to $47.00 in a research report on Monday, September 29th. HSBC set a $70.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, October 1st. Finally, Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 9th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and a consensus price target of $76.00.

Novo Nordisk A/S Price Performance

NVO stock opened at $53.02 on Friday. The firm has a 50 day moving average of $56.56 and a 200-day moving average of $62.40. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $114.19. The firm has a market capitalization of $236.74 billion, a P/E ratio of 14.57, a price-to-earnings-growth ratio of 2.41 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The company had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. As a group, sell-side analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were given a dividend of $0.4119 per share. 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.