Shikiar Asset Management Inc. Decreases Stake in Novo Nordisk A/S (NYSE:NVO)

Shikiar Asset Management Inc. trimmed its position in Novo Nordisk A/S (NYSE:NVO) by 13.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,244 shares of the company’s stock after selling 16,791 shares during the period. Novo Nordisk A/S accounts for 3.5% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 6th biggest position. Shikiar Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $13,246,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. GQG Partners LLC raised its stake in Novo Nordisk A/S by 654.6% in the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after purchasing an additional 3,151,584 shares in the last quarter. DSM Capital Partners LLC increased its holdings in shares of Novo Nordisk A/S by 257,816.0% in the 2nd quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after buying an additional 1,593,303 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Novo Nordisk A/S by 1,300.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock valued at $159,703,000 after buying an additional 1,155,313 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Novo Nordisk A/S by 10.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after acquiring an additional 823,036 shares during the last quarter. Finally, Marshall Wace LLP grew its position in Novo Nordisk A/S by 34,472.1% in the second quarter. Marshall Wace LLP now owns 691,441 shares of the company’s stock worth $98,696,000 after acquiring an additional 689,441 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NVO shares. BMO Capital Markets lowered 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 report on Thursday, August 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Thursday. Finally, StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.17.

Novo Nordisk A/S Stock Up 2.1 %

NVO stock opened at $120.04 on Friday. 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 stock has a market capitalization of $538.68 billion, a P/E ratio of 41.11, a P/E/G ratio of 1.53 and a beta of 0.42. The business has a fifty day moving average price of $129.39 and a 200-day moving average price of $132.02. Novo Nordisk A/S has a 1-year low of $92.94 and a 1-year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The business had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. Equities analysts forecast that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were paid a $0.5126 dividend. The ex-dividend date was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s payout ratio is presently 24.66%.

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.