Banque Cantonale Vaudoise Trims Stake in Novo Nordisk A/S (NYSE:NVO)

Banque Cantonale Vaudoise cut its position in Novo Nordisk A/S (NYSE:NVO) by 4.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,823 shares of the company’s stock after selling 444 shares during the period. Banque Cantonale Vaudoise’s holdings in Novo Nordisk A/S were worth $1,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVO. First PREMIER Bank purchased a new stake in shares of Novo Nordisk A/S in the first quarter worth $25,000. 1620 Investment Advisors Inc. bought a new position in shares of Novo Nordisk A/S during the second quarter worth $25,000. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Novo Nordisk A/S during the first quarter worth $26,000. Orion Capital Management LLC bought a new position in shares of Novo Nordisk A/S during the first quarter worth $26,000. Finally, Gilliland Jeter Wealth Management LLC boosted its position in shares of Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after acquiring an additional 120 shares during the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on NVO shares. BMO Capital Markets dropped their target price on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, August 19th. The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price for the company. Finally, Argus increased their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $145.17.

Novo Nordisk A/S Price Performance

NVO stock traded up $1.64 during trading on Friday, hitting $139.16. 2,718,338 shares of the company’s stock traded hands, compared to its average volume of 4,187,164. The business has a fifty day simple moving average of $135.76 and a 200 day simple moving average of $132.15. The stock has a market capitalization of $624.48 billion, a price-to-earnings ratio of 47.99, a P/E/G ratio of 1.52 and a beta of 0.41. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. Novo Nordisk A/S has a 52 week low of $86.96 and a 52 week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.06). The firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. As a group, research analysts expect that Novo Nordisk A/S will post 3.11 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were issued a $0.5126 dividend. The ex-dividend date was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.83%.

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.