Diamant Asset Management Inc. Sells 650 Shares of Novo Nordisk A/S $NVO

Diamant Asset Management Inc. trimmed its position in Novo Nordisk A/S (NYSE:NVO) by 2.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,840 shares of the company’s stock after selling 650 shares during the period. Novo Nordisk A/S makes up approximately 1.3% of Diamant Asset Management Inc.’s portfolio, making the stock its 21st biggest position. Diamant Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $1,645,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Unified Investment Management purchased a new stake in shares of Novo Nordisk A/S in the second quarter worth approximately $692,000. Acadian Asset Management LLC raised its stake in shares of Novo Nordisk A/S by 15,919.9% in the first quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock worth $72,523,000 after purchasing an additional 1,038,137 shares during the last quarter. Norden Group LLC raised its stake in shares of Novo Nordisk A/S by 216.3% in the second quarter. Norden Group LLC now owns 96,332 shares of the company’s stock worth $6,649,000 after purchasing an additional 65,877 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Novo Nordisk A/S by 48.7% in the second quarter. Farther Finance Advisors LLC now owns 103,138 shares of the company’s stock worth $7,119,000 after purchasing an additional 33,794 shares during the last quarter. Finally, Ridgewood Investments LLC raised its stake in shares of Novo Nordisk A/S by 205.4% in the second quarter. Ridgewood Investments LLC now owns 6,627 shares of the company’s stock worth $457,000 after purchasing an additional 4,457 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Performance

NVO stock opened at $55.61 on Friday. Novo Nordisk A/S has a 12-month low of $45.05 and a 12-month high of $121.34. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average of $56.03 and a 200-day moving average of $64.53. The firm has a market cap of $248.30 billion, a PE ratio of 15.28, a P/E/G ratio of 2.12 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The business had revenue of $11.69 billion for the quarter, compared to the consensus estimate of $77.51 billion. As a group, sell-side analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were paid a $0.4119 dividend. The ex-dividend date was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio is presently 22.53%.

Analysts Set New Price Targets

NVO has been the subject of several analyst reports. UBS Group downgraded Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 5th. BNP Paribas Exane raised Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price objective for the company in a research note on Wednesday, August 13th. Wall Street Zen lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. BNP Paribas raised Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a report on Wednesday, August 13th. Finally, HSBC lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $57.00 target price for the company. in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $81.00.

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.