Novo Nordisk A/S (NYSE:NVO) Shares Sold by Marietta Investment Partners LLC

Marietta Investment Partners LLC lessened its position in shares of Novo Nordisk A/S (NYSE:NVO) by 1.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 166,437 shares of the company’s stock after selling 2,800 shares during the period. Novo Nordisk A/S comprises 5.2% of Marietta Investment Partners LLC’s investment portfolio, making the stock its 3rd biggest holding. Marietta Investment Partners LLC’s holdings in Novo Nordisk A/S were worth $23,757,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NVO. 1620 Investment Advisors Inc. acquired a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at $25,000. Gilliland Jeter Wealth Management LLC boosted 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 in the last quarter. First PREMIER Bank acquired a new position in shares of Novo Nordisk A/S in the 1st quarter valued at $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Novo Nordisk A/S in the 1st quarter valued at $26,000. Finally, Orion Capital Management LLC acquired a new position in shares of Novo Nordisk A/S in the 1st quarter valued at $26,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 5.5 %

Shares of Novo Nordisk A/S stock opened at $127.51 on Monday. The company has a market cap of $572.21 billion, a P/E ratio of 43.97, a PEG ratio of 1.48 and a beta of 0.42. 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 has a one year low of $86.96 and a one year high of $148.15. The firm has a fifty day moving average of $133.13 and a two-hundred day moving average of $133.32.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. On average, 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 business also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were issued 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 is presently 24.83%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NVO. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 18th. Argus increased their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research note on Monday, September 16th. The Goldman Sachs Group assumed coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 price target for the company. Finally, BMO Capital Markets decreased 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. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Novo Nordisk A/S has a consensus rating of “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.