Equitable Trust Co. Reduces Stock Position in Novo Nordisk A/S $NVO

Equitable Trust Co. lessened its stake in Novo Nordisk A/S (NYSE:NVO) by 26.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 49,085 shares of the company’s stock after selling 18,042 shares during the period. Equitable Trust Co.’s holdings in Novo Nordisk A/S were worth $3,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Novo Nordisk A/S Stock Up 1.0%

Shares of NYSE NVO opened at $57.51 on Tuesday. The firm has a market capitalization of $256.76 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 2.58 and a beta of 0.68. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $120.47. The firm’s 50-day moving average is $55.61 and its 200-day moving average is $63.03.

Novo Nordisk A/S (NYSE:NVO) last posted 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. The company had revenue of $11.69 billion for the quarter, compared to the consensus estimate of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. Equities analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were given a dividend of $0.4119 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio is currently 22.53%.

Analysts Set New Price Targets

Several research analysts have commented on NVO shares. 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. Wall Street Zen lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Barclays restated an “equal weight” rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. TD Cowen dropped their price objective on shares of 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. Finally, Rothschild & Co Redburn upgraded shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 16th. Two equities 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.50.

Novo Nordisk A/S Company 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.