Sei Investments Co. Sells 35,992 Shares of Novo Nordisk A/S (NYSE:NVO)

Sei Investments Co. reduced its position in Novo Nordisk A/S (NYSE:NVO) by 4.8% during the second quarter, Holdings Channel.com reports. The firm owned 718,784 shares of the company’s stock after selling 35,992 shares during the quarter. Sei Investments Co.’s holdings in Novo Nordisk A/S were worth $102,599,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. First PREMIER Bank bought a new position in Novo Nordisk A/S in the 1st quarter valued at about $25,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Novo Nordisk A/S in the second quarter worth approximately $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Novo Nordisk A/S in the first quarter worth approximately $26,000. Orion Capital Management LLC bought a new position in shares of Novo Nordisk A/S in the first quarter valued at approximately $26,000. Finally, Gilliland Jeter Wealth Management LLC boosted its position in shares of Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after buying an additional 120 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $127.51 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’s 50-day moving average is $133.13 and its 200 day moving average is $133.26. 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 market capitalization of $572.21 billion, a P/E ratio of 43.97, a price-to-earnings-growth ratio of 1.48 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results 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 company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. On average, equities research analysts forecast that Novo Nordisk A/S will post 3.11 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were issued a dividend of $0.5126 per share. This represents a 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 24.83%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NVO shares. 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. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price for the company. Argus raised 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 report on Monday, June 10th. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, September 16th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $145.17.

Novo Nordisk A/S Company 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.