Signature Estate & Investment Advisors LLC Cuts Position in Novo Nordisk A/S $NVO

Signature Estate & Investment Advisors LLC cut its stake in Novo Nordisk A/S (NYSE:NVO) by 2.7% in the 2nd quarter, Holdings Channel reports. The fund owned 8,002 shares of the company’s stock after selling 219 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in Novo Nordisk A/S were worth $552,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVO. Kingstone Capital Partners Texas LLC grew its position in Novo Nordisk A/S by 301,443.6% in the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock worth $690,560,000 after acquiring an additional 10,001,898 shares in the last quarter. Nuveen LLC purchased a new stake in Novo Nordisk A/S during the first quarter valued at about $370,272,000. Amundi boosted its position in Novo Nordisk A/S by 49.1% during the first quarter. Amundi now owns 4,938,507 shares of the company’s stock valued at $331,576,000 after buying an additional 1,627,051 shares during the period. Acadian Asset Management LLC boosted its position in Novo Nordisk A/S by 15,919.9% during the first 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. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Novo Nordisk A/S by 118.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,594,544 shares of the company’s stock valued at $110,725,000 after buying an additional 864,579 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $55.78 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average of $56.36 and a 200-day moving average of $62.64. The firm has a market cap of $249.04 billion, a P/E ratio of 15.32, a P/E/G ratio of 2.50 and a beta of 0.68. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $117.96.

Novo Nordisk A/S (NYSE:NVO) last posted 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. The company had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. Sell-side analysts expect that Novo Nordisk A/S will post 3.84 EPS 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 issued a $0.4119 dividend. The ex-dividend date was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio (DPR) is 22.53%.

Analyst Ratings Changes

NVO has been the subject of several analyst reports. HSBC set a $70.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, October 1st. BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price target for the company in a research report on Wednesday, August 13th. Wall Street Zen lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Morgan Stanley lowered shares of Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and cut their price target for the company from $59.00 to $47.00 in a research report on Monday, September 29th. Finally, UBS Group downgraded shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.00.

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.