Massachusetts Wealth Management Sells 600 Shares of Novo Nordisk A/S (NYSE:NVO)

Massachusetts Wealth Management lessened its position in shares of Novo Nordisk A/S (NYSE:NVO) by 19.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Raymond James & Associates raised its stake in shares of Novo Nordisk A/S by 1.0% in the 3rd quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock valued at $419,939,000 after buying an additional 36,223 shares in the last quarter. Natixis Advisors LLC raised its position in Novo Nordisk A/S by 2.7% in the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after purchasing an additional 80,070 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Novo Nordisk A/S by 10,608.4% during the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after purchasing an additional 1,796,635 shares in the last quarter. LPL Financial LLC grew its stake in shares of Novo Nordisk A/S by 3.6% in the 3rd quarter. LPL Financial LLC now owns 1,362,782 shares of the company’s stock valued at $162,266,000 after purchasing an additional 47,496 shares during the period. Finally, DAVENPORT & Co LLC raised its holdings in shares of Novo Nordisk A/S by 75.1% in the 4th quarter. DAVENPORT & Co LLC now owns 1,052,712 shares of the company’s stock worth $90,477,000 after buying an additional 451,641 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NVO stock opened at $82.60 on Wednesday. The company has a 50 day moving average price of $92.65 and a 200 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. The stock has a market capitalization of $370.65 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 0.93 and a beta of 0.45.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, topping 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%. Analysts forecast that Novo Nordisk A/S will post 3.16 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on NVO shares. BMO Capital Markets dropped their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Finally, Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $145.25.

Novo Nordisk A/S 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.