North Star Asset Management Inc. Reduces Stake in Novo Nordisk A/S (NYSE:NVO)

North Star Asset Management Inc. reduced its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 1.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,598 shares of the company’s stock after selling 545 shares during the period. North Star Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $4,939,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. 1620 Investment Advisors Inc. purchased a new stake in Novo Nordisk A/S in the second quarter worth $25,000. Gilliland Jeter Wealth Management LLC lifted its holdings in Novo Nordisk A/S by 200.0% during the second 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 during the last quarter. First PREMIER Bank bought a new position in Novo Nordisk A/S during the first quarter worth about $25,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Novo Nordisk A/S in the first quarter valued at approximately $26,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at approximately $26,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $131.23 on Friday. Novo Nordisk A/S has a 1-year low of $86.96 and a 1-year high of $148.15. 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 business has a 50 day moving average of $134.79 and a 200 day moving average of $132.47. The company has a market capitalization of $588.90 billion, a price-to-earnings ratio of 45.25, a PEG ratio of 1.52 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, August 7th. The company reported $0.65 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%. On average, sell-side analysts predict 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 announced a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were issued a dividend of $0.5126 per share. This represents a yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is presently 24.83%.

Analyst Upgrades and Downgrades

NVO has been the topic of several recent research reports. BMO Capital Markets dropped their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, August 19th. The Goldman Sachs Group initiated 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. Argus boosted their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 19th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus 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.