Grandfield & Dodd LLC Cuts Stock Position in Novo Nordisk A/S (NYSE:NVO)

Grandfield & Dodd LLC lessened its position in Novo Nordisk A/S (NYSE:NVO) by 1.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,334 shares of the company’s stock after selling 150 shares during the quarter. Grandfield & Dodd LLC’s holdings in Novo Nordisk A/S were worth $579,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Cullen Frost Bankers Inc. raised its holdings in shares of Novo Nordisk A/S by 1.2% in the 1st quarter. Cullen Frost Bankers Inc. now owns 116,829 shares of the company’s stock valued at $8,113,000 after buying an additional 1,387 shares during the period. Kornitzer Capital Management Inc. KS increased its holdings in Novo Nordisk A/S by 0.3% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 155,858 shares of the company’s stock worth $10,823,000 after purchasing an additional 396 shares during the period. PAX Financial Group LLC increased its holdings in Novo Nordisk A/S by 87.4% during the 1st quarter. PAX Financial Group LLC now owns 10,119 shares of the company’s stock worth $703,000 after purchasing an additional 4,719 shares during the period. Mosaic Family Wealth Partners LLC increased its holdings in Novo Nordisk A/S by 8.7% during the 1st quarter. Mosaic Family Wealth Partners LLC now owns 3,198 shares of the company’s stock worth $222,000 after purchasing an additional 257 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in Novo Nordisk A/S by 7.1% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 78,984 shares of the company’s stock worth $5,485,000 after purchasing an additional 5,265 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on NVO shares. BNP Paribas started coverage on Novo Nordisk A/S in a report on Tuesday, April 15th. They set an “underperform” rating on the stock. BMO Capital Markets restated a “market perform” rating and set a $64.00 price target (down previously from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Dbs Bank downgraded Novo Nordisk A/S to a “sell” rating in a report on Friday, April 25th. Hsbc Global Res raised Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, April 28th. Finally, Guggenheim cut Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of “Hold” and a consensus price target of $112.00.

Novo Nordisk A/S Trading Down 2.3%

NYSE:NVO opened at $67.32 on Wednesday. The stock has a 50-day simple moving average of $70.37 and a 200-day simple moving average of $74.73. The stock has a market cap of $300.59 billion, a P/E ratio of 19.92, a P/E/G ratio of 1.33 and a beta of 0.64. Novo Nordisk A/S has a 1 year low of $57.00 and a 1 year high of $142.23. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.56 and a current ratio of 0.74.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. The business 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, analysts anticipate 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.