Montis Financial LLC Reduces Position in Novo Nordisk A/S $NVO

Montis Financial LLC trimmed its position in Novo Nordisk A/S (NYSE:NVO) by 35.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 6,568 shares of the company’s stock after selling 3,650 shares during the period. Montis Financial LLC’s holdings in Novo Nordisk A/S were worth $453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC raised its stake in shares of Novo Nordisk A/S by 301,443.6% in the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock worth $690,560,000 after purchasing an additional 10,001,898 shares during the last quarter. Folketrygdfondet raised its position in Novo Nordisk A/S by 6.9% during the 1st quarter. Folketrygdfondet now owns 9,521,912 shares of the company’s stock worth $661,202,000 after buying an additional 617,974 shares during the last quarter. Goldman Sachs Group Inc. lifted 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 valued at $395,291,000 after acquiring an additional 576,900 shares during the period. Sustainable Growth Advisers LP boosted its holdings in shares of Novo Nordisk A/S by 3.8% in the 1st quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company’s stock valued at $384,923,000 after acquiring an additional 202,443 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at $370,272,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 0.8%

Shares of NVO opened at $55.61 on Monday. The firm has a market cap of $248.30 billion, a P/E ratio of 15.28, a PEG ratio of 2.11 and a beta of 0.66. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $121.34. The stock’s 50 day moving average is $56.03 and its two-hundred day moving average is $64.38. 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 (NYSE:NVO) last announced its earnings results 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. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The firm had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. 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 business also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were given a $0.4119 dividend. 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 22.53%.

Analysts Set New Price Targets

Several brokerages recently issued reports on NVO. Wall Street Zen cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Hsbc Global Res downgraded Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Sanford C. Bernstein raised Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 9th. BNP Paribas upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 13th. Finally, Dbs Bank raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $81.00.

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.