NTV Asset Management LLC Cuts Stock Position in Novo Nordisk A/S $NVO

NTV Asset Management LLC lowered its stake in Novo Nordisk A/S (NYSE:NVO) by 7.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,206 shares of the company’s stock after selling 748 shares during the period. NTV Asset Management LLC’s holdings in Novo Nordisk A/S were worth $635,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in NVO. Copeland Capital Management LLC grew its stake in shares of Novo Nordisk A/S by 184.8% in the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock worth $27,000 after buying an additional 255 shares during the last quarter. North Capital Inc. bought a new position in Novo Nordisk A/S in the 1st quarter valued at approximately $27,000. Stone House Investment Management LLC bought a new position in Novo Nordisk A/S in the 1st quarter valued at approximately $30,000. Disciplina Capital Management LLC lifted its position in Novo Nordisk A/S by 162.3% in the 1st quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock valued at $33,000 after acquiring an additional 297 shares in the last quarter. Finally, Spirit of America Management Corp NY bought a new position in Novo Nordisk A/S in the 1st quarter valued at approximately $35,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. TD Cowen lowered their price objective on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, August 19th. Wall Street Zen cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Dbs Bank raised Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Friday, August 22nd. Barclays reaffirmed an “equal weight” rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Finally, Hsbc Global Res raised Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and a consensus price target of $77.50.

Novo Nordisk A/S Price Performance

NYSE NVO opened at $59.68 on Friday. The business’s fifty day moving average price is $54.92 and its 200-day moving average price is $63.84. The stock has a market capitalization of $266.45 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 2.25 and a beta of 0.68. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $120.56.

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

Novo Nordisk A/S Cuts Dividend

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

About Novo Nordisk A/S

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.