Edge Capital Group LLC Sells 12,447 Shares of Novo Nordisk A/S (NYSE:NVO)

Edge Capital Group LLC trimmed its position in Novo Nordisk A/S (NYSE:NVO) by 17.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 59,369 shares of the company’s stock after selling 12,447 shares during the period. Edge Capital Group LLC’s holdings in Novo Nordisk A/S were worth $8,474,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NVO. 1620 Investment Advisors Inc. bought a new position in shares of Novo Nordisk A/S in the second quarter valued at approximately $25,000. Gilliland Jeter Wealth Management LLC raised its stake in shares of Novo Nordisk A/S by 200.0% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after purchasing an additional 120 shares during the period. First PREMIER Bank purchased a new position in shares of Novo Nordisk A/S in the 1st quarter worth about $25,000. Dixon Mitchell Investment Counsel Inc. bought a new position in Novo Nordisk A/S during the first quarter valued at about $26,000. Finally, Orion Capital Management LLC purchased a new stake in Novo Nordisk A/S during the first quarter worth about $26,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NVO shares. The Goldman Sachs Group assumed coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, September 16th. Argus boosted their target price on 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 cut 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 note on Thursday, August 8th. Finally, StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. One 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $145.17.

Novo Nordisk A/S Trading Down 5.5 %

Shares of NVO stock opened at $127.51 on Friday. The company has a market capitalization of $572.21 billion, a PE ratio of 43.97, a price-to-earnings-growth ratio of 1.48 and a beta of 0.42. Novo Nordisk A/S has a 52-week low of $86.96 and a 52-week high of $148.15. The business’s fifty 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.

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). The business had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. On average, equities research analysts anticipate 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 given a dividend of $0.5126 per share. This represents a dividend 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 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.