Seven Eight Capital LP Has $1.34 Million Stake in Novo Nordisk A/S (NYSE:NVO)

Seven Eight Capital LP reduced its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 72.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,410 shares of the company’s stock after selling 24,886 shares during the quarter. Seven Eight Capital LP’s holdings in Novo Nordisk A/S were worth $1,343,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. 1620 Investment Advisors Inc. acquired a new position in Novo Nordisk A/S during the second quarter valued at approximately $25,000. Gilliland Jeter Wealth Management LLC grew its holdings in shares of Novo Nordisk A/S by 200.0% in the 2nd 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 period. First PREMIER Bank bought a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Novo Nordisk A/S during the 1st quarter worth $26,000. Finally, Orion Capital Management LLC bought a new position in Novo Nordisk A/S during the first quarter worth about $26,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $134.90 on Friday. The stock has a market capitalization of $605.37 billion, a price-to-earnings ratio of 46.52, a PEG ratio of 1.48 and a beta of 0.42. Novo Nordisk A/S has a 12 month low of $86.96 and a 12 month high of $148.15. The firm has a fifty day simple moving average of $133.43 and a 200 day simple moving average of $133.20. 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 (NYSE:NVO) last released its earnings results 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). 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 analyst estimates of $9.91 billion. Research analysts forecast that Novo Nordisk A/S will post 3.11 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Analyst Ratings Changes

NVO has been the subject of several recent analyst reports. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Wednesday. BMO Capital Markets dropped their target price on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. The Goldman Sachs Group assumed coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target for the company. Argus raised their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target 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.