Sovran Advisors LLC Cuts Holdings in Novo Nordisk A/S $NVO

Sovran Advisors LLC cut its stake in Novo Nordisk A/S (NYSE:NVO) by 76.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,960 shares of the company’s stock after selling 31,490 shares during the quarter. Sovran Advisors LLC’s holdings in Novo Nordisk A/S were worth $507,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Beacon Financial Group raised its position in Novo Nordisk A/S by 4.3% in the third quarter. Beacon Financial Group now owns 4,307 shares of the company’s stock valued at $239,000 after purchasing an additional 178 shares during the period. Kavar Capital Partners Group LLC raised its position in Novo Nordisk A/S by 0.6% in the third quarter. Kavar Capital Partners Group LLC now owns 32,631 shares of the company’s stock valued at $1,811,000 after purchasing an additional 200 shares during the period. SeaBridge Investment Advisors LLC raised its position in Novo Nordisk A/S by 5.7% in the third quarter. SeaBridge Investment Advisors LLC now owns 3,735 shares of the company’s stock valued at $207,000 after purchasing an additional 200 shares during the period. Joel Isaacson & Co. LLC raised its position in Novo Nordisk A/S by 1.0% in the third quarter. Joel Isaacson & Co. LLC now owns 21,084 shares of the company’s stock valued at $1,170,000 after purchasing an additional 200 shares during the period. Finally, Revolve Wealth Partners LLC raised its position in Novo Nordisk A/S by 8.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock valued at $214,000 after purchasing an additional 200 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on NVO shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $41.00 price objective (down from $63.00) on shares of Novo Nordisk A/S in a research report on Monday, March 2nd. Morgan Stanley raised Novo Nordisk A/S from an “underweight” rating to an “equal weight” rating and set a $40.00 price objective on the stock in a research report on Tuesday, March 3rd. Kepler Capital Markets lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Citigroup started coverage on Novo Nordisk A/S in a research report on Tuesday, January 27th. They issued a “neutral” rating on the stock. Finally, Wolfe Research started coverage on Novo Nordisk A/S in a research report on Thursday, March 26th. They set a “peer perform” rating on the stock. Four research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $65.56.

Novo Nordisk A/S Stock Down 0.9%

Shares of NYSE NVO opened at $36.66 on Tuesday. Novo Nordisk A/S has a 1 year low of $35.12 and a 1 year high of $81.44. The firm has a market cap of $163.70 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 8.75 and a beta of 0.73. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.57 and a current ratio of 0.80. The stock’s 50-day simple moving average is $42.88 and its 200-day simple moving average is $49.56.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Tuesday, February 3rd. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Novo Nordisk A/S had a return on equity of 68.91% and a net margin of 33.03%.The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $11.97 billion. As a group, equities analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Dividend Announcement

The company also recently declared a dividend, which will be paid on Wednesday, April 8th. Investors of record on Monday, March 30th will be paid a $1.2751 dividend. This represents a yield of 723.0%. The ex-dividend date is Monday, March 30th. Novo Nordisk A/S’s dividend payout ratio (DPR) is 50.43%.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.