Sharp Financial Services LLC Lowers Holdings in Novo Nordisk A/S $NVO

Sharp Financial Services LLC trimmed its holdings in Novo Nordisk A/S (NYSE:NVO) by 5.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 3,300 shares of the company’s stock after selling 200 shares during the period. Sharp Financial Services LLC’s holdings in Novo Nordisk A/S were worth $228,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Kingstone Capital Partners Texas LLC lifted its position in shares of 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 valued at $690,560,000 after acquiring an additional 10,001,898 shares in the last quarter. Folketrygdfondet lifted its position in shares of Novo Nordisk A/S by 6.9% in the first quarter. Folketrygdfondet now owns 9,521,912 shares of the company’s stock valued at $661,202,000 after acquiring an additional 617,974 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Novo Nordisk A/S by 11.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company’s stock valued at $395,291,000 after acquiring an additional 576,900 shares in the last quarter. Sustainable Growth Advisers LP lifted its position in shares of Novo Nordisk A/S by 3.8% in the first quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company’s stock valued at $384,923,000 after acquiring an additional 202,443 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Novo Nordisk A/S in the first quarter valued at about $370,272,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Down 3.0%

Shares of NVO stock opened at $56.95 on Monday. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $120.56. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The stock’s 50 day simple moving average is $55.44 and its two-hundred day simple moving average is $63.11. The company has a market cap of $254.27 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 2.58 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last issued 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 return on equity of 78.64% and a net margin of 35.60%.The business had revenue of $11.69 billion for the quarter, compared to the consensus estimate of $77.51 billion. Research 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 given 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 dividend payout ratio is 22.53%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NVO. Rothschild & Co Redburn upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 16th. Rothschild Redb upgraded Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 16th. Barclays reiterated an “equal weight” rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Zacks Research upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Dbs Bank upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Friday, August 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.50.

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.