Sage Mountain Advisors LLC Sells 320 Shares of Novo Nordisk A/S $NVO

Sage Mountain Advisors LLC trimmed its holdings in Novo Nordisk A/S (NYSE:NVO) by 5.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,536 shares of the company’s stock after selling 320 shares during the period. Sage Mountain Advisors LLC’s holdings in Novo Nordisk A/S were worth $382,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Copeland Capital Management LLC boosted 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 worth $27,000 after purchasing an additional 255 shares in the last quarter. North Capital Inc. bought a new stake in shares of Novo Nordisk A/S during the 1st quarter worth about $27,000. Stone House Investment Management LLC acquired a new position in shares of Novo Nordisk A/S during the 1st quarter valued at about $30,000. Disciplina Capital Management LLC raised its stake 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 acquiring an additional 297 shares in the last quarter. Finally, Dagco Inc. bought a new position in shares of Novo Nordisk A/S in the 1st quarter valued at approximately $35,000. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $53.02 on Friday. The company’s fifty day moving average is $56.56 and its two-hundred day moving average is $62.40. Novo Nordisk A/S has a 52-week low of $45.05 and a 52-week high of $114.19. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The firm has a market capitalization of $236.74 billion, a price-to-earnings ratio of 14.57, a P/E/G ratio of 2.41 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The business had revenue of $11.69 billion during the quarter, compared to analysts’ expectations of $77.51 billion. Equities research analysts forecast 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. Stockholders of record on Monday, August 18th were issued a dividend of $0.4119 per share. This represents a dividend yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 22.53%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NVO shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Novo Nordisk A/S in a report on Tuesday, October 14th. 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. BMO Capital Markets reiterated a “market perform” rating and issued a $55.00 target price (up previously from $50.00) on shares of Novo Nordisk A/S in a report on Tuesday, October 14th. Morgan Stanley cut shares of Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and decreased their price target for the company from $59.00 to $47.00 in a report on Monday, September 29th. Finally, Rothschild & Co Redburn upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 16th. Two 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.00.

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.