Cox Capital Mgt LLC Trims Stock Holdings in Novo Nordisk A/S $NVO

Cox Capital Mgt LLC reduced its stake in Novo Nordisk A/S (NYSE:NVO) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,073 shares of the company’s stock after selling 382 shares during the period. Cox Capital Mgt LLC’s holdings in Novo Nordisk A/S were worth $1,731,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Unified Investment Management purchased a new stake in Novo Nordisk A/S in the 2nd quarter valued at about $692,000. Acadian Asset Management LLC raised its holdings in Novo Nordisk A/S by 15,919.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock valued at $72,523,000 after buying an additional 1,038,137 shares during the period. Norden Group LLC raised its holdings in Novo Nordisk A/S by 216.3% in the 2nd quarter. Norden Group LLC now owns 96,332 shares of the company’s stock valued at $6,649,000 after buying an additional 65,877 shares during the period. Farther Finance Advisors LLC raised its holdings in Novo Nordisk A/S by 48.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 103,138 shares of the company’s stock valued at $7,119,000 after buying an additional 33,794 shares during the period. Finally, Ridgewood Investments LLC raised its holdings in Novo Nordisk A/S by 205.4% in the 2nd quarter. Ridgewood Investments LLC now owns 6,627 shares of the company’s stock valued at $457,000 after buying an additional 4,457 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Down 4.5%

NVO stock opened at $56.07 on Friday. The company’s 50 day moving average price is $56.20 and its 200 day moving average price is $64.68. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $125.62. The firm has a market capitalization of $250.35 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 2.22 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The firm had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. On average, equities research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were paid a dividend of $0.4119 per share. This represents a dividend yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio is presently 22.53%.

Wall Street Analyst Weigh In

NVO has been the subject of several research reports. BNP Paribas raised Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research report on Wednesday, August 13th. Hsbc Global Res downgraded Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. TD Cowen dropped their target price on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, August 19th. UBS Group downgraded Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 5th. Finally, Rothschild Redb raised Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $81.00.

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.