Harbour Trust & Investment Management Co Reduces Holdings in Novo Nordisk A/S $NVO

Harbour Trust & Investment Management Co cut its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 1.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,227 shares of the company’s stock after selling 1,034 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Novo Nordisk A/S were worth $7,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. First Hawaiian Bank boosted its holdings in Novo Nordisk A/S by 0.6% during the 1st quarter. First Hawaiian Bank now owns 22,401 shares of the company’s stock valued at $1,556,000 after acquiring an additional 142 shares during the period. Anchor Investment Management LLC boosted its holdings in Novo Nordisk A/S by 1.1% during the 1st quarter. Anchor Investment Management LLC now owns 13,597 shares of the company’s stock valued at $944,000 after acquiring an additional 150 shares during the period. Xponance Inc. boosted its holdings in Novo Nordisk A/S by 5.0% during the 1st quarter. Xponance Inc. now owns 3,314 shares of the company’s stock valued at $230,000 after acquiring an additional 158 shares during the period. Foster Dykema Cabot & Partners LLC boosted its holdings in Novo Nordisk A/S by 3.8% during the 1st quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company’s stock valued at $319,000 after acquiring an additional 166 shares during the period. Finally, PFG Investments LLC boosted its holdings in Novo Nordisk A/S by 1.0% during the 1st quarter. PFG Investments LLC now owns 18,102 shares of the company’s stock valued at $1,257,000 after acquiring an additional 178 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NVO has been the topic of a number of recent analyst reports. Wall Street Zen lowered 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 note on Friday, August 22nd. TD Cowen reduced their price objective on shares of 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. Hsbc Global Res upgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Rothschild & Co Redburn upgraded shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and a consensus target price of $77.50.

Novo Nordisk A/S Price Performance

Shares of NVO stock opened at $57.51 on Tuesday. The stock has a market cap of $256.76 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 2.58 and a beta of 0.68. The business’s fifty day moving average is $55.61 and its 200 day moving average is $63.03. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $120.47. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. The company had revenue of $11.69 billion for the quarter, compared to analysts’ expectations of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal 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. The ex-dividend date was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s payout ratio is presently 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.