Dorsey Wright & Associates Decreases Stock Position in Novo Nordisk A/S (NYSE:NVO)

Dorsey Wright & Associates lowered its stake in Novo Nordisk A/S (NYSE:NVO) by 3.3% in the 2nd quarter, Holdings Channel reports. The firm owned 54,585 shares of the company’s stock after selling 1,850 shares during the quarter. Novo Nordisk A/S accounts for approximately 2.0% of Dorsey Wright & Associates’ portfolio, making the stock its 4th largest position. Dorsey Wright & Associates’ holdings in Novo Nordisk A/S were worth $7,791,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group grew its position in shares of Novo Nordisk A/S by 10.7% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 16,421 shares of the company’s stock valued at $2,344,000 after purchasing an additional 1,591 shares in the last quarter. Smith Thornton Advisors LLC purchased a new position in Novo Nordisk A/S during the second quarter worth about $226,000. Scientech Research LLC bought a new position in Novo Nordisk A/S in the 2nd quarter worth about $467,000. Lighthouse Investment Partners LLC purchased a new stake in shares of Novo Nordisk A/S in the 2nd quarter valued at about $3,657,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Novo Nordisk A/S by 2.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 131,876 shares of the company’s stock valued at $18,824,000 after acquiring an additional 2,817 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday, September 16th. BMO Capital Markets cut their price target on shares of 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. Argus raised 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 research report on Monday, June 10th. Finally, StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 18th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $145.17.

Novo Nordisk A/S Price Performance

NVO stock opened at $120.76 on Friday. The firm has a market cap of $541.91 billion, a P/E ratio of 41.64, a P/E/G ratio of 1.35 and a beta of 0.42. The firm’s fifty day moving average is $131.97 and its 200 day moving average is $133.00. Novo Nordisk A/S has a 52 week low of $86.96 and a 52 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.

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

Novo Nordisk A/S Cuts Dividend

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

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.