Boston Financial Mangement LLC Trims Position in Novo Nordisk A/S (NYSE:NVO)

Boston Financial Mangement LLC lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 60.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,307 shares of the company’s stock after selling 26,175 shares during the quarter. Boston Financial Mangement LLC’s holdings in Novo Nordisk A/S were worth $2,061,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Traynor Capital Management Inc. lifted its stake in shares of Novo Nordisk A/S by 3.4% during the 3rd quarter. Traynor Capital Management Inc. now owns 305,404 shares of the company’s stock worth $36,364,000 after purchasing an additional 10,019 shares during the period. Old Port Advisors raised its position in shares of Novo Nordisk A/S by 4.8% in the 3rd quarter. Old Port Advisors now owns 5,094 shares of the company’s stock worth $607,000 after buying an additional 233 shares during the period. Autumn Glory Partners LLC raised its position in shares of Novo Nordisk A/S by 39.9% in the 3rd quarter. Autumn Glory Partners LLC now owns 22,671 shares of the company’s stock worth $2,699,000 after buying an additional 6,463 shares during the period. Welch Group LLC purchased a new position in shares of Novo Nordisk A/S in the 3rd quarter worth $247,000. Finally, Tower View Wealth Management LLC raised its position in shares of Novo Nordisk A/S by 0.8% in the 3rd quarter. Tower View Wealth Management LLC now owns 23,656 shares of the company’s stock worth $2,817,000 after buying an additional 196 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 0.3 %

NYSE:NVO opened at $112.01 on Wednesday. The business’s 50-day moving average is $125.68 and its two-hundred day moving average is $131.19. 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 has a 12 month low of $94.73 and a 12 month high of $148.15. The firm has a market capitalization of $502.65 billion, a PE ratio of 38.36, a price-to-earnings-growth ratio of 1.48 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing the consensus estimate 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 company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. Research analysts predict that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Stockholders 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 dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio is presently 24.66%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets cut their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. One 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, Novo Nordisk A/S has an average rating of “Moderate Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Company 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.