Perfromance Wealth Partners LLC Sells 4,112 Shares of Novo Nordisk A/S $NVO

Perfromance Wealth Partners LLC lessened its holdings in Novo Nordisk A/S (NYSE:NVO) by 12.7% in the second quarter, HoldingsChannel reports. The fund owned 28,299 shares of the company’s stock after selling 4,112 shares during the period. Perfromance Wealth Partners LLC’s holdings in Novo Nordisk A/S were worth $1,953,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of NVO. Revolve Wealth Partners LLC boosted its position in shares of Novo Nordisk A/S by 8.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock valued at $214,000 after acquiring an additional 200 shares during the period. GAMMA Investing LLC boosted its position in shares of Novo Nordisk A/S by 9.6% in the first quarter. GAMMA Investing LLC now owns 9,466 shares of the company’s stock valued at $657,000 after acquiring an additional 827 shares during the period. CX Institutional bought a new stake in shares of Novo Nordisk A/S in the first quarter valued at about $36,000. Sound Income Strategies LLC boosted its position in shares of Novo Nordisk A/S by 69.6% in the first quarter. Sound Income Strategies LLC now owns 914 shares of the company’s stock valued at $63,000 after acquiring an additional 375 shares during the period. Finally, North Star Investment Management Corp. boosted its position in shares of Novo Nordisk A/S by 18.2% in the first quarter. North Star Investment Management Corp. now owns 20,742 shares of the company’s stock valued at $1,440,000 after acquiring an additional 3,200 shares during the period. Institutional investors 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 company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The company has a market cap of $256.76 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 2.58 and a beta of 0.68. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $120.47. The stock has a 50-day moving average price of $55.61 and a two-hundred day moving average price of $63.03.

Novo Nordisk A/S (NYSE:NVO) last issued its 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 firm had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. As a group, analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Analyst Upgrades and Downgrades

NVO has been the subject of a number of recent research reports. Berenberg Bank raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. Wall Street Zen downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Sanford C. Bernstein raised Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 9th. Rothschild & Co Redburn raised Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 16th. Finally, BNP Paribas Exane raised Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price target for the company in a research note on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $77.50.

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.