Novo Nordisk A/S (NYSE:NVO) Holdings Lowered by Everett Harris & Co. CA

Everett Harris & Co. CA lowered its position in Novo Nordisk A/S (NYSE:NVO) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,438,614 shares of the company’s stock after selling 46,140 shares during the quarter. Novo Nordisk A/S comprises 9.5% of Everett Harris & Co. CA’s investment portfolio, making the stock its 3rd largest holding. Everett Harris & Co. CA owned approximately 0.14% of Novo Nordisk A/S worth $766,646,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SageView Advisory Group LLC purchased a new stake in shares of Novo Nordisk A/S during the fourth quarter worth $271,000. Alaska Permanent Fund Corp bought a new position in Novo Nordisk A/S in the 1st quarter worth about $396,000. Banque Cantonale Vaudoise grew its holdings in Novo Nordisk A/S by 1,446.2% during the 1st quarter. Banque Cantonale Vaudoise now owns 10,267 shares of the company’s stock valued at $1,319,000 after buying an additional 9,603 shares in the last quarter. RFG Advisory LLC increased its position in shares of Novo Nordisk A/S by 81.9% during the first quarter. RFG Advisory LLC now owns 10,742 shares of the company’s stock valued at $1,379,000 after buying an additional 4,835 shares during the period. Finally, &PARTNERS purchased a new stake in shares of Novo Nordisk A/S in the first quarter worth about $783,000. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Price Performance

NVO stock traded down $0.13 during mid-day trading on Friday, hitting $118.09. 3,193,441 shares of the stock were exchanged, compared to its average volume of 4,833,489. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The stock has a market capitalization of $529.93 billion, a price-to-earnings ratio of 40.46, a PEG ratio of 1.56 and a beta of 0.42. The business has a fifty day moving average price of $128.48 and a 200 day moving average price of $131.65. Novo Nordisk A/S has a 12 month low of $92.94 and a 12 month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) 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 analysts’ expectations of $9.91 billion. On average, sell-side analysts anticipate that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were paid a $0.5126 dividend. 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 presently 24.66%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NVO. 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 Thursday, October 10th. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets dropped their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $144.50.

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.