Nicollet Investment Management Inc. Has $5.88 Million Stock Position in Novo Nordisk A/S (NYSE:NVO)

Nicollet Investment Management Inc. reduced its position in shares of Novo Nordisk A/S (NYSE:NVO) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,195 shares of the company’s stock after selling 571 shares during the quarter. Novo Nordisk A/S accounts for 2.2% of Nicollet Investment Management Inc.’s investment portfolio, making the stock its 13th biggest holding. Nicollet Investment Management Inc.’s holdings in Novo Nordisk A/S were worth $5,880,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. First PREMIER Bank acquired a new position in Novo Nordisk A/S in the first quarter worth approximately $25,000. 1620 Investment Advisors Inc. acquired a new position in Novo Nordisk A/S during the 2nd quarter valued at $25,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Novo Nordisk A/S in the first quarter valued at about $26,000. Orion Capital Management LLC acquired a new stake in Novo Nordisk A/S during the first quarter worth about $26,000. Finally, Gilliland Jeter Wealth Management LLC increased its stake 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 acquiring an additional 120 shares during the period. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock opened at $129.76 on Wednesday. Novo Nordisk A/S has a 1-year low of $86.96 and a 1-year high of $148.15. The firm’s 50-day moving average price is $134.26 and its two-hundred day moving average price is $132.73. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $582.30 billion, a price-to-earnings ratio of 44.74, a P/E/G ratio of 1.43 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 for the quarter, missing analysts’ consensus estimates 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 business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. On average, equities 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 declared a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were given a dividend of $0.5126 per share. The ex-dividend date was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is 24.83%.

Wall Street Analyst Weigh In

A number of brokerages have commented on NVO. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday. Argus raised their price objective 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 initiated 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 on the stock. Finally, BMO Capital Markets dropped their price target on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research report 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.17.

Novo Nordisk A/S 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.