HWG Holdings LP Lowers Holdings in Novo Nordisk A/S (NYSE:NVO)

HWG Holdings LP decreased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 60.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,166 shares of the company’s stock after selling 79,438 shares during the quarter. Novo Nordisk A/S makes up 2.1% of HWG Holdings LP’s holdings, making the stock its 13th largest holding. HWG Holdings LP’s holdings in Novo Nordisk A/S were worth $6,092,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in Novo Nordisk A/S by 10.6% in 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 in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Novo Nordisk A/S by 1.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock worth $607,242,000 after acquiring an additional 58,935 shares in the last quarter. GQG Partners LLC lifted its stake in shares of Novo Nordisk A/S by 654.6% during the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after purchasing an additional 3,151,584 shares during the last quarter. Raymond James & Associates boosted its position in Novo Nordisk A/S by 1.0% during the third quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock valued at $419,939,000 after purchasing an additional 36,223 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its stake in Novo Nordisk A/S by 7.8% in the first quarter. 1832 Asset Management L.P. now owns 2,373,029 shares of the company’s stock valued at $304,697,000 after purchasing an additional 172,003 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. BMO Capital Markets decreased their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. Finally, StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $144.50.

Novo Nordisk A/S Stock Down 0.0 %

NVO stock opened at $113.91 on Friday. The stock has a market capitalization of $511.17 billion, a PE ratio of 39.02, a price-to-earnings-growth ratio of 1.52 and a beta of 0.42. Novo Nordisk A/S has a 52 week low of $92.94 and a 52 week high of $148.15. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average of $127.52 and a 200 day moving average of $131.50.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results 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). The company had revenue of $9.82 billion during 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%. Sell-side analysts forecast that Novo Nordisk A/S will post 3.01 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were paid a dividend of $0.5126 per share. The ex-dividend date was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s payout ratio is presently 24.66%.

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.