Investment Research & Advisory Group Inc. Reduces Holdings in Novo Nordisk A/S $NVO

Investment Research & Advisory Group Inc. lowered its position in Novo Nordisk A/S (NYSE:NVO) by 18.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,115 shares of the company’s stock after selling 249 shares during the quarter. Investment Research & Advisory Group Inc.’s holdings in Novo Nordisk A/S were worth $77,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Copeland Capital Management LLC boosted its position in shares of Novo Nordisk A/S by 184.8% during the first quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock valued at $27,000 after buying an additional 255 shares during the period. North Capital Inc. bought a new stake in shares of Novo Nordisk A/S during the 1st quarter worth approximately $27,000. Stone House Investment Management LLC purchased a new position in Novo Nordisk A/S during the 1st quarter valued at $30,000. Disciplina Capital Management LLC grew its position in Novo Nordisk A/S by 162.3% in the 1st quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock valued at $33,000 after acquiring an additional 297 shares during the last quarter. Finally, Spirit of America Management Corp NY purchased a new stake in Novo Nordisk A/S in the first quarter worth $35,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $55.61 on Monday. The company has a 50 day moving average price of $56.03 and a 200-day moving average price of $64.38. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $121.34. The stock has a market capitalization of $248.30 billion, a PE ratio of 15.28, a PEG ratio of 2.11 and a beta of 0.66. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78.

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

Novo Nordisk A/S Cuts Dividend

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

Analyst Ratings Changes

NVO has been the subject of a number of recent analyst reports. BNP Paribas raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 13th. Rothschild & Co Redburn raised shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 16th. Wall Street Zen downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Dbs Bank raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Friday, August 22nd. Finally, Zacks Research lowered Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 20th. One investment 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $81.00.

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.