Novo Nordisk A/S $NVO Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC lowered its stake in Novo Nordisk A/S (NYSE:NVO) by 10.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,915 shares of the company’s stock after selling 3,537 shares during the quarter. HB Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $2,134,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in NVO. First Hawaiian Bank increased its holdings in Novo Nordisk A/S by 0.6% in the 1st quarter. First Hawaiian Bank now owns 22,401 shares of the company’s stock valued at $1,556,000 after purchasing an additional 142 shares during the last quarter. Anchor Investment Management LLC boosted its position in shares of Novo Nordisk A/S by 1.1% during the first quarter. Anchor Investment Management LLC now owns 13,597 shares of the company’s stock worth $944,000 after buying an additional 150 shares during the period. Xponance Inc. grew its stake in shares of Novo Nordisk A/S by 5.0% in the first quarter. Xponance Inc. now owns 3,314 shares of the company’s stock valued at $230,000 after buying an additional 158 shares in the last quarter. Foster Dykema Cabot & Partners LLC grew its stake in shares of Novo Nordisk A/S by 3.8% in the first quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company’s stock valued at $319,000 after buying an additional 166 shares in the last quarter. Finally, Beacon Financial Group raised its holdings in shares of Novo Nordisk A/S by 6.5% in the 1st quarter. Beacon Financial Group now owns 2,884 shares of the company’s stock valued at $200,000 after buying an additional 177 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Dbs Bank upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Friday, August 22nd. BNP Paribas Exane raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price objective for the company in a research note on Wednesday, August 13th. Zacks Research upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Monday. TD Cowen reduced their target price on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, August 19th. Finally, Morgan Stanley downgraded shares of Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and dropped their price target for the stock from $59.00 to $47.00 in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $77.50.

Novo Nordisk A/S Trading Down 0.7%

NYSE NVO opened at $58.77 on Friday. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $120.56. The firm has a 50 day moving average of $55.16 and a two-hundred day moving average of $63.98. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $262.42 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 2.27 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. The business had revenue of $11.69 billion during the quarter, compared to analysts’ expectations of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. As a group, research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were given a dividend of $0.4119 per share. This represents a dividend yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio is currently 22.53%.

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.