Nicollet Investment Management Inc. Sells 571 Shares of Novo Nordisk A/S (NYSE:NVO)

Nicollet Investment Management Inc. trimmed its position in Novo Nordisk A/S (NYSE:NVO) by 1.4% during the second quarter, Holdings Channel reports. The institutional investor owned 41,195 shares of the company’s stock after selling 571 shares during the quarter. Novo Nordisk A/S makes up about 2.2% of Nicollet Investment Management Inc.’s investment portfolio, making the stock its 13th biggest holding. Nicollet Investment Management Inc.’s holdings in Novo Nordisk A/S were worth $5,880,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in NVO. Folketrygdfondet lifted its holdings in Novo Nordisk A/S by 1.4% in the first quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock valued at $1,124,275,000 after buying an additional 124,770 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Novo Nordisk A/S by 10.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after buying an additional 823,036 shares during the last quarter. Capital International Investors grew its position in shares of Novo Nordisk A/S by 22.3% during the 4th quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after buying an additional 1,297,536 shares during the period. GQG Partners LLC increased its stake in shares of Novo Nordisk A/S by 654.6% in the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after acquiring an additional 3,151,584 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in shares of Novo Nordisk A/S by 7.8% in the 1st quarter. 1832 Asset Management L.P. now owns 2,373,029 shares of the company’s stock valued at $304,697,000 after acquiring an additional 172,003 shares during the period. 11.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NVO shares. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Monday, August 19th. 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 report on Thursday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday. Argus lifted their target price on 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, The Goldman Sachs Group started coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Novo Nordisk A/S has an average rating of “Moderate Buy” and an average price target of $145.17.

Novo Nordisk A/S Trading Down 1.6 %

NYSE NVO opened at $129.76 on Wednesday. The stock has a market capitalization of $582.30 billion, a price-to-earnings ratio of 44.74, a PEG ratio of 1.43 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 stock’s 50 day moving average price is $134.26 and its two-hundred day moving average price is $132.73. 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 earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share 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 business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. As a group, analysts anticipate that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Novo Nordisk A/S 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.