Grandfield & Dodd LLC Sells 1,980 Shares of Novo Nordisk A/S (NYSE:NVO)

Grandfield & Dodd LLC lowered its position in Novo Nordisk A/S (NYSE:NVO) by 15.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,754 shares of the company’s stock after selling 1,980 shares during the period. Grandfield & Dodd LLC’s holdings in Novo Nordisk A/S were worth $1,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Geneos Wealth Management Inc. raised its stake in shares of Novo Nordisk A/S by 11.1% during the first quarter. Geneos Wealth Management Inc. now owns 16,417 shares of the company’s stock valued at $2,108,000 after acquiring an additional 1,641 shares in the last quarter. Essex LLC increased its holdings in Novo Nordisk A/S by 2.0% during the first quarter. Essex LLC now owns 4,684 shares of the company’s stock valued at $601,000 after buying an additional 90 shares during the period. 9258 Wealth Management LLC increased its holdings in Novo Nordisk A/S by 7.4% during the first quarter. 9258 Wealth Management LLC now owns 2,698 shares of the company’s stock valued at $346,000 after buying an additional 185 shares during the period. Paulson Wealth Management Inc. purchased a new position in Novo Nordisk A/S during the first quarter valued at approximately $233,000. Finally, Csenge Advisory Group increased its holdings in Novo Nordisk A/S by 18.9% during the first quarter. Csenge Advisory Group now owns 23,268 shares of the company’s stock valued at $2,988,000 after buying an additional 3,694 shares during the period. Institutional investors own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NVO. Argus lifted their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $163.00 price target on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. The Goldman Sachs Group began coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday, July 1st. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and a consensus target price of $145.67.

Novo Nordisk A/S Stock Performance

NYSE NVO traded down $2.95 on Thursday, reaching $139.79. 3,836,482 shares of the company’s stock traded hands, compared to its average volume of 4,448,043. The firm has a market cap of $627.31 billion, a price-to-earnings ratio of 48.20, a P/E/G ratio of 1.41 and a beta of 0.41. The stock has a 50 day moving average price of $137.68 and a 200-day moving average price of $125.97. Novo Nordisk A/S has a fifty-two week low of $75.96 and a fifty-two week high of $148.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. The company had revenue of $9.52 billion during the quarter, compared to the consensus estimate of $9.23 billion. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. Equities research analysts predict that Novo Nordisk A/S will post 3.43 EPS 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.