DMC Group LLC Has $1.47 Million Position in Novo Nordisk A/S (NYSE:NVO)

DMC Group LLC trimmed its holdings in Novo Nordisk A/S (NYSE:NVO) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,366 shares of the company’s stock after selling 186 shares during the quarter. Novo Nordisk A/S comprises about 1.2% of DMC Group LLC’s portfolio, making the stock its 21st biggest position. DMC Group LLC’s holdings in Novo Nordisk A/S were worth $1,472,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Folketrygdfondet grew its holdings in Novo Nordisk A/S by 1.4% in the first quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock worth $1,124,275,000 after purchasing an additional 124,770 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Novo Nordisk A/S by 10.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after purchasing an additional 823,036 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Novo Nordisk A/S by 1.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock valued at $607,242,000 after buying an additional 58,935 shares during the period. GQG Partners LLC increased its position in Novo Nordisk A/S by 654.6% in the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after buying an additional 3,151,584 shares in the last quarter. Finally, Raymond James & Associates raised its stake 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 worth $419,939,000 after buying an additional 36,223 shares during the period. Institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on NVO. BMO Capital Markets reduced their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research note on Thursday. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Trading Down 0.1 %

Shares of Novo Nordisk A/S stock opened at $118.09 on Friday. The company has a market capitalization of $529.93 billion, a P/E ratio of 40.44, a price-to-earnings-growth ratio of 1.56 and a beta of 0.42. The stock has a fifty day simple moving average of $128.48 and a 200 day simple moving average of $131.69. Novo Nordisk A/S has a 12-month low of $92.94 and a 12-month high of $148.15. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results 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 firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. On average, sell-side analysts anticipate that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were paid a $0.5126 dividend. 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 (DPR) is 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.