Novo Nordisk A/S (NYSE:NVO) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC lessened its stake in Novo Nordisk A/S (NYSE:NVO) by 1.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,600 shares of the company’s stock after selling 292 shares during the quarter. Farther Finance Advisors LLC’s holdings in Novo Nordisk A/S were worth $3,868,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. First PREMIER Bank acquired a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at approximately $25,000. 1620 Investment Advisors Inc. purchased a new stake in Novo Nordisk A/S during the second quarter worth $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Novo Nordisk A/S in the first quarter valued at $26,000. Orion Capital Management LLC purchased a new position in shares of Novo Nordisk A/S in the first quarter valued at $26,000. Finally, Gilliland Jeter Wealth Management LLC increased its position in shares of Novo Nordisk A/S by 200.0% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after buying an additional 120 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Up 1.2 %

NYSE NVO traded up $1.64 during mid-day trading on Friday, reaching $139.16. 2,718,338 shares of the stock were exchanged, compared to its average volume of 4,368,564. The stock has a market capitalization of $624.48 billion, a PE ratio of 47.99, a PEG ratio of 1.33 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70. Novo Nordisk A/S has a 1-year low of $86.96 and a 1-year high of $148.15. The business’s fifty day simple moving average is $135.76 and its 200 day simple moving average is $132.06.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data 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 analyst estimates of $9.91 billion. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. On average, research analysts anticipate that Novo Nordisk A/S will post 3.38 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Wall Street Analyst Weigh In

NVO has been the topic of several recent research reports. BMO Capital Markets decreased their price objective on shares of 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. 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. The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective for the company. Cantor Fitzgerald reaffirmed 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. Finally, Argus raised their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $145.17.

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.