Federated Hermes Inc. Sells 12,742 Shares of Novo Nordisk A/S (NYSE:NVO)

Federated Hermes Inc. lessened its position in shares of Novo Nordisk A/S (NYSE:NVO) by 5.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 209,711 shares of the company’s stock after selling 12,742 shares during the quarter. Federated Hermes Inc.’s holdings in Novo Nordisk A/S were worth $29,934,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in shares of Novo Nordisk A/S by 38.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock worth $9,781,000 after purchasing an additional 26,067 shares in the last quarter. Bank of New Hampshire increased its position in Novo Nordisk A/S by 1,356.8% during the 1st quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock valued at $1,702,000 after buying an additional 12,347 shares in the last quarter. Cim LLC purchased a new stake in Novo Nordisk A/S in the fourth quarter valued at about $23,547,000. Burford Brothers Inc. acquired a new position in shares of Novo Nordisk A/S during the fourth quarter valued at about $1,045,000. Finally, Mark Asset Management LP purchased a new position in shares of Novo Nordisk A/S in the 4th quarter valued at approximately $1,035,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $137.00 on Friday. Novo Nordisk A/S has a fifty-two week low of $86.96 and a fifty-two week high of $148.15. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The company has a fifty day moving average of $134.03 and a two-hundred day moving average of $132.94. The stock has a market capitalization of $614.79 billion, a PE ratio of 47.24, a P/E/G ratio of 1.48 and a beta of 0.42.

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

Novo Nordisk A/S Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NVO shares. Argus upped their price target on shares of 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. BMO Capital Markets lowered their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 19th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday, September 9th. Finally, The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target for the company. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and an average price target of $145.17.

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.