Harbour Trust & Investment Management Co Lowers Holdings in Novo Nordisk A/S $NVO

Harbour Trust & Investment Management Co decreased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 1.0% in the second quarter, Holdings Channel reports. The institutional investor owned 106,227 shares of the company’s stock after selling 1,034 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Novo Nordisk A/S were worth $7,332,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Copeland Capital Management LLC increased its holdings in shares of Novo Nordisk A/S by 184.8% in the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock worth $27,000 after purchasing an additional 255 shares in the last quarter. North Capital Inc. purchased a new position in shares of Novo Nordisk A/S in the first quarter worth $27,000. Stone House Investment Management LLC purchased a new position in shares of Novo Nordisk A/S in the first quarter worth $30,000. Disciplina Capital Management LLC raised its stake in shares of Novo Nordisk A/S by 162.3% in the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock worth $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 first quarter worth $35,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $57.51 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $120.47. The firm has a market capitalization of $256.76 billion, a P/E ratio of 15.80, a PEG ratio of 2.58 and a beta of 0.68. The business has a fifty day moving average of $55.61 and a 200 day moving average of $63.03.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping the consensus estimate 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 company had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. As a group, sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were issued a dividend of $0.4119 per share. 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 currently 22.53%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. UBS Group cut Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 5th. HSBC set a $70.00 price target on Novo Nordisk A/S in a research note on Wednesday, October 1st. Berenberg Bank upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Wednesday, September 17th. Rothschild & Co Redburn upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 16th. Finally, Barclays restated an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.50.

About Novo Nordisk A/S

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.