Stock Yards Bank & Trust Co. Sells 651 Shares of Novo Nordisk A/S $NVO

Stock Yards Bank & Trust Co. lessened its stake in Novo Nordisk A/S (NYSE:NVO) by 15.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,696 shares of the company’s stock after selling 651 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Novo Nordisk A/S were worth $255,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. North Capital Inc. acquired a new stake in Novo Nordisk A/S in the first quarter valued at $27,000. Copeland Capital Management LLC lifted its stake in Novo Nordisk A/S by 184.8% in the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock valued at $27,000 after purchasing an additional 255 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in Novo Nordisk A/S in the 1st quarter valued at about $30,000. Disciplina Capital Management LLC grew its holdings in Novo Nordisk A/S by 162.3% during the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock worth $33,000 after purchasing an additional 297 shares during the period. Finally, Spirit of America Management Corp NY acquired a new position in Novo Nordisk A/S during the first quarter worth approximately $35,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NVO has been the subject of several research analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Novo Nordisk A/S in a research note on Saturday, September 27th. BNP Paribas raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research report on Wednesday, August 13th. Zacks Research raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Hsbc Global Res raised shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, TD Cowen decreased their price target on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, August 19th. Two 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.50.

Novo Nordisk A/S Price Performance

NYSE:NVO opened at $59.68 on Monday. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $120.56. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. The firm’s 50-day simple moving average is $54.92 and its 200 day simple moving average is $63.63. The firm has a market cap of $266.45 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 2.63 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $77.51 billion. As a group, sell-side 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 disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were paid a dividend of $0.4119 per share. This represents a yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio (DPR) is 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.