First Pacific Financial Lowers Position in Novo Nordisk A/S $NVO

First Pacific Financial lessened its stake in Novo Nordisk A/S (NYSE:NVO) by 8.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,831 shares of the company’s stock after selling 1,023 shares during the quarter. First Pacific Financial’s holdings in Novo Nordisk A/S were worth $748,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in NVO. Copeland Capital Management LLC raised its holdings in shares of Novo Nordisk A/S by 184.8% during the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock worth $27,000 after acquiring an additional 255 shares in the last quarter. North Capital Inc. purchased a new stake in Novo Nordisk A/S during the first quarter valued at $27,000. Stone House Investment Management LLC bought a new position in Novo Nordisk A/S during the first quarter valued at $30,000. Disciplina Capital Management LLC lifted its position in Novo Nordisk A/S by 162.3% during the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock valued at $33,000 after purchasing an additional 297 shares during the last quarter. Finally, Spirit of America Management Corp NY purchased a new position in shares of Novo Nordisk A/S in the 1st quarter worth $35,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NVO. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 9th. UBS Group lowered Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 5th. HSBC lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $57.00 price target for the company. in a research report on Thursday, July 31st. TD Cowen dropped their price target on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, August 19th. Finally, Barclays reiterated an “equal weight” rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Novo Nordisk A/S has a consensus rating of “Hold” and an average price target of $75.33.

Novo Nordisk A/S Trading Up 0.0%

NVO stock opened at $55.52 on Wednesday. The company’s 50-day simple moving average is $55.62 and its 200-day simple moving average is $64.17. 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 has a 52-week low of $45.05 and a 52-week high of $120.56. The firm has a market cap of $247.90 billion, a P/E ratio of 15.25, a PEG ratio of 2.10 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping the consensus estimate 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%. As a group, equities analysts forecast 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 declared a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were issued a $0.4119 dividend. This represents a yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S’s payout ratio is presently 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.