Stablepoint Partners LLC Sells 2,474 Shares of Novo Nordisk A/S (NYSE:NVO)

Stablepoint Partners LLC cut its position in shares of Novo Nordisk A/S (NYSE:NVO) by 17.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,536 shares of the company’s stock after selling 2,474 shares during the quarter. Stablepoint Partners LLC’s holdings in Novo Nordisk A/S were worth $1,647,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVO. Consolidated Planning Corp raised its holdings in Novo Nordisk A/S by 3.2% in the second quarter. Consolidated Planning Corp now owns 54,096 shares of the company’s stock worth $7,722,000 after buying an additional 1,692 shares during the last quarter. Simon Quick Advisors LLC boosted its position in shares of Novo Nordisk A/S by 10.8% in the second quarter. Simon Quick Advisors LLC now owns 5,867 shares of the company’s stock worth $837,000 after purchasing an additional 570 shares during the period. Foundations Investment Advisors LLC lifted its holdings in Novo Nordisk A/S by 25.5% in the 2nd quarter. Foundations Investment Advisors LLC now owns 123,637 shares of the company’s stock worth $17,648,000 after purchasing an additional 25,122 shares in the last quarter. Cozad Asset Management Inc. lifted its position in shares of Novo Nordisk A/S by 27.2% in the second quarter. Cozad Asset Management Inc. now owns 20,881 shares of the company’s stock worth $2,981,000 after buying an additional 4,463 shares in the last quarter. Finally, Founders Financial Securities LLC grew its position in Novo Nordisk A/S by 119.2% in the second quarter. Founders Financial Securities LLC now owns 3,709 shares of the company’s stock worth $529,000 after acquiring an additional 2,017 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Down 1.3 %

NYSE NVO opened at $134.50 on Thursday. Novo Nordisk A/S has a 12 month low of $86.96 and a 12 month high of $148.15. The stock has a market capitalization of $603.57 billion, a P/E ratio of 46.38, a PEG ratio of 1.52 and a beta of 0.41. The firm’s 50-day moving average is $135.30 and its two-hundred day moving average is $132.43. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75.

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 return on equity of 87.43% and a net margin of 34.86%. The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. On average, sell-side analysts anticipate that Novo Nordisk A/S will post 3.11 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were paid a $0.5126 dividend. The ex-dividend date was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio is presently 24.83%.

Analyst Ratings Changes

NVO has been the topic of a number of research analyst reports. Argus upped their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. The Goldman Sachs Group assumed coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday, August 19th. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. Finally, BMO Capital Markets reduced their price objective on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $145.17.

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.