Stegent Equity Advisors Inc. Trims Stock Holdings in Novo Nordisk A/S $NVO

Stegent Equity Advisors Inc. lowered its stake in Novo Nordisk A/S (NYSE:NVO) by 72.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,243 shares of the company’s stock after selling 13,904 shares during the period. Stegent Equity Advisors Inc.’s holdings in Novo Nordisk A/S were worth $362,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NVO. Revolve Wealth Partners LLC increased its holdings 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 purchasing an additional 200 shares during the period. GAMMA Investing LLC increased its holdings 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 purchasing an additional 827 shares during the period. Spire Wealth Management increased its holdings in shares of Novo Nordisk A/S by 8.2% in the first quarter. Spire Wealth Management now owns 12,862 shares of the company’s stock valued at $893,000 after purchasing an additional 978 shares during the period. Golden State Wealth Management LLC increased its holdings in shares of Novo Nordisk A/S by 127.1% in the first quarter. Golden State Wealth Management LLC now owns 4,128 shares of the company’s stock valued at $287,000 after purchasing an additional 2,310 shares during the period. Finally, Park Place Capital Corp increased its holdings in shares of Novo Nordisk A/S by 26.1% in the first quarter. Park Place Capital Corp now owns 1,683 shares of the company’s stock valued at $117,000 after purchasing an additional 348 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Morgan Stanley lowered Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and dropped their target price for the company from $59.00 to $47.00 in a report on Monday, September 29th. Rothschild & Co Redburn raised Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, September 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Novo Nordisk A/S in a report on Tuesday, October 14th. Sanford C. Bernstein raised Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 9th. Finally, Barclays reissued an “equal weight” rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $76.00.

Novo Nordisk A/S Stock Down 0.4%

Novo Nordisk A/S stock opened at $53.02 on Friday. 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 firm has a market capitalization of $236.74 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 2.41 and a beta of 0.68. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $114.19. The stock’s fifty day moving average is $56.56 and its two-hundred day moving average is $62.40.

Novo Nordisk A/S (NYSE:NVO) last posted 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. The company had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Analysts predict that Novo Nordisk A/S will post 3.84 EPS 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. Investors 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 yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio is 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.