Tritonpoint Wealth LLC Has $894,000 Stock Position in Novo Nordisk A/S $NVO

Tritonpoint Wealth LLC lowered its stake in Novo Nordisk A/S (NYSE:NVO) by 20.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,956 shares of the company’s stock after selling 3,422 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Novo Nordisk A/S were worth $894,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC lifted its stake in shares of Novo Nordisk A/S by 301,443.6% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock valued at $690,560,000 after purchasing an additional 10,001,898 shares during the period. Folketrygdfondet lifted its stake in shares of Novo Nordisk A/S by 6.9% in the 1st quarter. Folketrygdfondet now owns 9,521,912 shares of the company’s stock valued at $661,202,000 after purchasing an additional 617,974 shares during the period. Goldman Sachs Group Inc. raised its stake in Novo Nordisk A/S by 11.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company’s stock worth $395,291,000 after buying an additional 576,900 shares during the period. Sustainable Growth Advisers LP raised its stake in Novo Nordisk A/S by 3.8% during the 1st quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company’s stock worth $384,923,000 after buying an additional 202,443 shares during the period. Finally, Nuveen LLC acquired a new stake in Novo Nordisk A/S during the 1st quarter worth $370,272,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Rothschild Redb raised Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 16th. UBS Group downgraded Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 5th. TD Cowen dropped their price objective on 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. Wall Street Zen downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Rothschild & Co Redburn raised Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Hold” and an average price target of $81.00.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $55.61 on Monday. The stock has a market capitalization of $248.30 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 2.11 and a beta of 0.66. The business has a 50-day moving average of $56.03 and a 200-day moving average of $64.38. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $121.34.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $11.69 billion during the quarter, compared to analysts’ expectations 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 fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were paid a $0.4119 dividend. 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%.

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.