DMC Group LLC Decreases Stock Holdings in Novo Nordisk A/S $NVO

DMC Group LLC trimmed its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 7.3% in the second quarter, Holdings Channel reports. The institutional investor owned 10,336 shares of the company’s stock after selling 819 shares during the period. DMC Group LLC’s holdings in Novo Nordisk A/S were worth $713,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. First Hawaiian Bank lifted its stake in Novo Nordisk A/S by 0.6% in the first quarter. First Hawaiian Bank now owns 22,401 shares of the company’s stock valued at $1,556,000 after buying an additional 142 shares during the last quarter. Anchor Investment Management LLC increased its holdings in shares of Novo Nordisk A/S by 1.1% in the 1st quarter. Anchor Investment Management LLC now owns 13,597 shares of the company’s stock valued at $944,000 after purchasing an additional 150 shares in the last quarter. Xponance Inc. increased its holdings in shares of Novo Nordisk A/S by 5.0% in the 1st quarter. Xponance Inc. now owns 3,314 shares of the company’s stock valued at $230,000 after purchasing an additional 158 shares in the last quarter. Foster Dykema Cabot & Partners LLC increased its position in shares of Novo Nordisk A/S by 3.8% in the first quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company’s stock valued at $319,000 after buying an additional 166 shares in the last quarter. Finally, PFG Investments LLC increased its position in Novo Nordisk A/S by 1.0% during the first quarter. PFG Investments LLC now owns 18,102 shares of the company’s stock worth $1,257,000 after buying an additional 178 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Down 0.9%

NYSE NVO opened at $59.10 on Wednesday. The company has a market capitalization of $263.90 billion, a P/E ratio of 16.24, a PEG ratio of 2.66 and a beta of 0.68. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $120.56. The company’s 50 day simple moving average is $54.84 and its 200 day simple moving average is $63.48. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results 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 analysts’ expectations of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Equities research analysts expect 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. Shareholders of record on Monday, August 18th were issued a dividend of $0.4119 per share. This represents a yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S’s payout ratio is presently 22.53%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NVO. TD Cowen lowered their price objective on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, August 19th. Rothschild & Co Redburn upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, September 16th. HSBC set a $70.00 target price on Novo Nordisk A/S in a research note on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Novo Nordisk A/S in a research report on Saturday, September 27th. Finally, Hsbc Global Res upgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.50.

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.