Private Advisor Group LLC Cuts Position in Novo Nordisk A/S (NYSE:NVO)

Private Advisor Group LLC lessened its position in Novo Nordisk A/S (NYSE:NVO) by 0.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 94,137 shares of the company’s stock after selling 894 shares during the period. Private Advisor Group LLC’s holdings in Novo Nordisk A/S were worth $13,437,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NVO. GQG Partners LLC lifted its stake in shares of Novo Nordisk A/S by 654.6% in the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after buying an additional 3,151,584 shares in the last quarter. Capital International Investors lifted its stake in shares of Novo Nordisk A/S by 22.3% in the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after buying an additional 1,297,536 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Novo Nordisk A/S by 1,300.8% in the first quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock worth $159,703,000 after buying an additional 1,155,313 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Novo Nordisk A/S by 10.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after buying an additional 823,036 shares in the last quarter. Finally, Norden Group LLC lifted its stake in shares of Novo Nordisk A/S by 2,456.0% in the first quarter. Norden Group LLC now owns 658,856 shares of the company’s stock worth $84,597,000 after buying an additional 633,079 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Up 0.2 %

NVO opened at $131.14 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a 1-year low of $86.96 and a 1-year high of $148.15. The company has a market capitalization of $588.49 billion, a PE ratio of 45.22, a PEG ratio of 1.52 and a beta of 0.42. The firm’s 50 day simple moving average is $134.79 and its two-hundred day simple moving average is $132.55.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results 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). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. As a group, equities analysts forecast that Novo Nordisk A/S will post 3.11 EPS 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. Stockholders of record on Friday, August 16th were paid a $0.5126 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.83%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. The Goldman Sachs Group assumed coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday, August 19th. BMO Capital Markets lowered their price objective on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Argus increased 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. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company 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.