Balentine LLC Cuts Holdings in Novo Nordisk A/S (NYSE:NVO)

Balentine LLC lessened its stake in Novo Nordisk A/S (NYSE:NVO) by 85.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 12,479 shares of the company’s stock after selling 70,700 shares during the quarter. Balentine LLC’s holdings in Novo Nordisk A/S were worth $1,781,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Advisor OS LLC increased its holdings in shares of Novo Nordisk A/S by 0.6% in the 2nd quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock valued at $1,994,000 after acquiring an additional 82 shares during the last quarter. Cascade Financial Partners LLC boosted its holdings in Novo Nordisk A/S by 2.3% in the second quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock valued at $543,000 after purchasing an additional 84 shares in the last quarter. Cravens & Co Advisors LLC increased its stake in Novo Nordisk A/S by 1.0% in the first quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock valued at $1,059,000 after purchasing an additional 85 shares during the last quarter. AA Financial Advisors LLC raised its holdings in Novo Nordisk A/S by 3.2% during the second quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock worth $400,000 after purchasing an additional 86 shares in the last quarter. Finally, Sage Rhino Capital LLC lifted its position in shares of Novo Nordisk A/S by 0.7% during the 1st quarter. Sage Rhino Capital LLC now owns 12,320 shares of the company’s stock worth $1,582,000 after buying an additional 89 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NVO has been the topic of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Monday, August 19th. BMO Capital Markets dropped their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective for the company. Finally, Argus lifted their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $131.93 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The firm has a market cap of $592.04 billion, a price-to-earnings ratio of 45.49, a price-to-earnings-growth ratio of 1.43 and a beta of 0.42. The firm’s fifty day moving average price is $134.52 and its 200 day moving average price is $132.68. Novo Nordisk A/S has a 1-year low of $86.96 and a 1-year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The business had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. On average, sell-side analysts expect that Novo Nordisk A/S will post 3.11 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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

Novo Nordisk A/S Company 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.