ST Germain D J Co. Inc. Lowers Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

ST Germain D J Co. Inc. trimmed its position in shares of Novo Nordisk A/S (NYSE:NVO) by 2.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,857 shares of the company’s stock after selling 1,982 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Novo Nordisk A/S were worth $9,628,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James & Associates boosted its holdings in Novo Nordisk A/S by 1.0% during the 3rd quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock valued at $419,939,000 after acquiring an additional 36,223 shares during the period. First Citizens Bank & Trust Co. raised its position in Novo Nordisk A/S by 6.5% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 17,025 shares of the company’s stock valued at $2,027,000 after purchasing an additional 1,039 shares in the last quarter. Blue Trust Inc. raised its position in shares of Novo Nordisk A/S by 41.0% during the 3rd quarter. Blue Trust Inc. now owns 22,703 shares of the company’s stock worth $2,703,000 after acquiring an additional 6,599 shares in the last quarter. Mogy Joel R Investment Counsel Inc. raised its position in shares of Novo Nordisk A/S by 5.1% during the 3rd quarter. Mogy Joel R Investment Counsel Inc. now owns 200,500 shares of the company’s stock worth $23,874,000 after acquiring an additional 9,770 shares in the last quarter. Finally, Net Worth Advisory Group acquired a new stake in shares of Novo Nordisk A/S during the 3rd quarter worth about $721,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NVO. 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. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $144.50.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock traded down $0.13 during trading on Friday, reaching $118.09. The company’s stock had a trading volume of 3,193,441 shares, compared to its average volume of 4,833,489. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a 12-month low of $92.94 and a 12-month high of $148.15. The company has a market capitalization of $529.93 billion, a P/E ratio of 40.46, a price-to-earnings-growth ratio of 1.56 and a beta of 0.42. The business has a 50 day moving average price of $128.48 and a 200-day moving average price of $131.65.

Novo Nordisk A/S (NYSE:NVO) last posted 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 during the quarter, compared to analysts’ expectations of $9.91 billion. As a group, sell-side analysts anticipate that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio is presently 24.66%.

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.