First Foundation Advisors Trims Holdings in Novo Nordisk A/S (NYSE:NVO)

First Foundation Advisors reduced its stake in Novo Nordisk A/S (NYSE:NVO) by 9.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,703 shares of the company’s stock after selling 713 shares during the quarter. First Foundation Advisors’ holdings in Novo Nordisk A/S were worth $957,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Werba Rubin Papier Wealth Management boosted its position in shares of Novo Nordisk A/S by 21.9% during the second quarter. Werba Rubin Papier Wealth Management now owns 5,470 shares of the company’s stock worth $781,000 after buying an additional 984 shares during the period. Ausdal Financial Partners Inc. lifted its stake in Novo Nordisk A/S by 6.7% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 3,641 shares of the company’s stock worth $520,000 after acquiring an additional 230 shares in the last quarter. Ballentine Partners LLC boosted its holdings in Novo Nordisk A/S by 9.4% during the 2nd quarter. Ballentine Partners LLC now owns 25,832 shares of the company’s stock valued at $3,687,000 after acquiring an additional 2,217 shares during the period. Certuity LLC grew its position in Novo Nordisk A/S by 83.6% in the 2nd quarter. Certuity LLC now owns 4,416 shares of the company’s stock valued at $630,000 after acquiring an additional 2,011 shares in the last quarter. Finally, Chris Bulman Inc purchased a new stake in Novo Nordisk A/S during the second quarter worth about $71,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

NVO has been the subject of a number of research reports. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Monday, August 19th. Argus increased their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday. The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target on the stock. Finally, BMO Capital Markets decreased their price objective on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Trading Up 0.6 %

NYSE:NVO opened at $131.93 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. Novo Nordisk A/S has a 1 year low of $86.96 and a 1 year high of $148.15. The stock has a market cap of $592.04 billion, a P/E ratio of 45.49, a P/E/G ratio of 1.43 and a beta of 0.42. The stock has a 50-day simple moving average of $134.52 and a 200-day simple moving average of $132.68.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.06). The company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. As a group, analysts anticipate that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were given a dividend of $0.5126 per share. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 24.83%.

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.