Ethic Inc. Sells 72,989 Shares of Novo Nordisk A/S $NVO

Ethic Inc. cut its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 44.2% in the 2nd quarter, Holdings Channel reports. The firm owned 92,144 shares of the company’s stock after selling 72,989 shares during the period. Ethic Inc.’s holdings in Novo Nordisk A/S were worth $6,313,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sterling Investment Management LLC bought a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at $956,000. Exencial Wealth Advisors LLC lifted its stake in shares of Novo Nordisk A/S by 5.2% in the 2nd quarter. Exencial Wealth Advisors LLC now owns 24,822 shares of the company’s stock valued at $1,713,000 after acquiring an additional 1,221 shares during the last quarter. Brookstone Capital Management lifted its stake in shares of Novo Nordisk A/S by 55.3% in the 2nd quarter. Brookstone Capital Management now owns 22,037 shares of the company’s stock valued at $1,521,000 after acquiring an additional 7,848 shares during the last quarter. Cullen Frost Bankers Inc. lifted its stake in shares of Novo Nordisk A/S by 0.9% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 117,889 shares of the company’s stock valued at $8,137,000 after acquiring an additional 1,060 shares during the last quarter. Finally, DecisionMap Wealth Management LLC lifted its stake in shares of Novo Nordisk A/S by 14.3% in the 2nd quarter. DecisionMap Wealth Management LLC now owns 8,418 shares of the company’s stock valued at $581,000 after acquiring an additional 1,052 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $53.37 on Thursday. 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 business has a 50-day moving average price of $56.51 and a two-hundred day moving average price of $62.52. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $116.43. The company has a market cap of $238.29 billion, a P/E ratio of 14.66, a PEG ratio of 2.49 and a beta of 0.68.

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 analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $77.51 billion. As a group, analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were issued 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 presently 22.53%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Dbs Bank upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Friday, August 22nd. Sanford C. Bernstein upgraded Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 9th. Barclays reiterated an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Morgan Stanley downgraded Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and decreased their price objective for the company from $59.00 to $47.00 in a report on Monday, September 29th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $55.00 price objective (up from $50.00) on shares of Novo Nordisk A/S in a report on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Novo Nordisk A/S has an average rating of “Moderate Buy” and an average target price of $76.00.

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.