Kavar Capital Partners Group LLC Sells 420 Shares of Novo Nordisk A/S (NYSE:NVO)

Kavar Capital Partners Group LLC lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,753 shares of the company’s stock after selling 420 shares during the period. Kavar Capital Partners Group LLC’s holdings in Novo Nordisk A/S were worth $3,781,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of NVO. OneAscent Financial Services LLC boosted its stake in Novo Nordisk A/S by 11.9% in the 1st quarter. OneAscent Financial Services LLC now owns 3,779 shares of the company’s stock worth $487,000 after purchasing an additional 401 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in Novo Nordisk A/S in the 1st quarter worth about $849,000. Symphony Financial Ltd. Co. bought a new position in Novo Nordisk A/S in the 1st quarter worth about $242,000. Founders Financial Securities LLC bought a new position in Novo Nordisk A/S in the 1st quarter worth about $217,000. Finally, Fiduciary Alliance LLC bought a new position in Novo Nordisk A/S in the 1st quarter worth about $839,000. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 0.5 %

Novo Nordisk A/S stock opened at $113.38 on Friday. The firm has a 50 day moving average of $126.61 and a 200 day moving average of $131.32. The firm has a market capitalization of $508.80 billion, a price-to-earnings ratio of 39.10, a P/E/G ratio of 1.52 and a beta of 0.42. Novo Nordisk A/S has a 12-month low of $92.94 and a 12-month high of $148.15. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46.

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 analysts’ expectations 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 predict that Novo Nordisk A/S will post 3.01 earnings per share for the current 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 of this dividend was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s payout ratio is 24.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NVO shares. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets decreased their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $144.50.

About Novo Nordisk A/S

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.