Bank Hapoalim BM Sells 600 Shares of Novo Nordisk A/S (NYSE:NVO)

Bank Hapoalim BM reduced its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 6.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,110 shares of the company’s stock after selling 600 shares during the quarter. Bank Hapoalim BM’s holdings in Novo Nordisk A/S were worth $1,085,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. 1620 Investment Advisors Inc. acquired a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Novo Nordisk A/S during the second quarter valued at approximately $25,000. Orion Capital Management LLC bought a new stake in Novo Nordisk A/S during the first quarter worth $26,000. Gilliland Jeter Wealth Management LLC boosted its holdings in shares of Novo Nordisk A/S by 200.0% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after purchasing an additional 120 shares in the last quarter. Finally, Halpern Financial Inc. increased its stake in shares of Novo Nordisk A/S by 113.0% in the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after purchasing an additional 113 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 2.3 %

Shares of Novo Nordisk A/S stock traded down $2.62 on Thursday, hitting $110.62. The stock had a trading volume of 1,493,433 shares, compared to its average volume of 4,330,806. The stock has a 50 day moving average of $125.25 and a 200 day moving average of $131.06. 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 has a twelve month low of $94.73 and a twelve month high of $148.15. The firm has a market capitalization of $496.41 billion, a P/E ratio of 38.78, a PEG ratio of 1.48 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.06). The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. Sell-side analysts expect that Novo Nordisk A/S will post 3.01 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. Stockholders of record on Friday, August 16th were paid a $0.5126 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s payout ratio is 24.66%.

Analyst Ratings Changes

NVO has been the topic of several research analyst reports. BMO Capital Markets reduced their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Thursday, October 10th. Finally, StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $144.50.

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.