TFC Financial Management Inc. Decreases Stock Position in Novo Nordisk A/S $NVO

TFC Financial Management Inc. cut its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 14.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,840 shares of the company’s stock after selling 485 shares during the period. TFC Financial Management Inc.’s holdings in Novo Nordisk A/S were worth $196,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NVO. Kingstone Capital Partners Texas LLC raised its stake in Novo Nordisk A/S by 301,443.6% during 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 buying an additional 10,001,898 shares during the last quarter. Nuveen LLC purchased a new stake in Novo Nordisk A/S during the 1st quarter valued at $370,272,000. Amundi raised its stake in Novo Nordisk A/S by 49.1% during the 1st quarter. Amundi now owns 4,938,507 shares of the company’s stock valued at $331,576,000 after buying an additional 1,627,051 shares during the last quarter. Acadian Asset Management LLC raised its stake in Novo Nordisk A/S by 15,919.9% during the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock valued at $72,523,000 after buying an additional 1,038,137 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Novo Nordisk A/S by 118.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,594,544 shares of the company’s stock valued at $110,725,000 after buying an additional 864,579 shares during the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NVO has been the subject of several analyst reports. Wall Street Zen lowered 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 research note on Wednesday, July 30th. Rothschild & Co Redburn upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 16th. Sanford C. Bernstein upgraded Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 9th. Finally, Rothschild Redb upgraded Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $76.00.

Novo Nordisk A/S Trading Down 1.1%

Shares of Novo Nordisk A/S stock opened at $56.07 on Friday. The company has a market capitalization of $250.35 billion, a P/E ratio of 15.40, a P/E/G ratio of 2.61 and a beta of 0.68. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. The company has a fifty day moving average of $56.17 and a 200 day moving average of $62.85. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $119.07.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share 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 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%. On average, sell-side analysts anticipate 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 disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders 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 dividend yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio (DPR) 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.