Novo Nordisk A/S (NYSE:NVO) Shares Sold by Agate Pass Investment Management LLC

Agate Pass Investment Management LLC reduced its stake in Novo Nordisk A/S (NYSE:NVO) by 3.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,750 shares of the company’s stock after selling 475 shares during the period. Agate Pass Investment Management LLC’s holdings in Novo Nordisk A/S were worth $1,518,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. 1620 Investment Advisors Inc. acquired a new stake in shares of Novo Nordisk A/S in the second quarter valued at $25,000. Gilliland Jeter Wealth Management LLC raised its stake 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 acquiring an additional 120 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Novo Nordisk A/S in the second quarter valued at $25,000. First PREMIER Bank acquired a new stake in Novo Nordisk A/S in the first quarter valued at $25,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in Novo Nordisk A/S in the first quarter valued at $26,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NVO has been the topic of a number of analyst reports. BMO Capital Markets cut their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Thursday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $145.17.

Novo Nordisk A/S Stock Up 0.5 %

NVO opened at $117.57 on Friday. The business’s 50-day simple moving average is $129.84 and its 200-day simple moving average is $132.16. 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 one year low of $92.94 and a one year high of $148.15. The stock has a market capitalization of $527.60 billion, a P/E ratio of 40.26, a price-to-earnings-growth ratio of 1.53 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Analysts anticipate that Novo Nordisk A/S will post 3.01 EPS for the current 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 issued a dividend of $0.5126 per share. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is currently 24.66%.

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.