Novo Nordisk A/S $NVO Shares Sold by Hobbs Group Advisors LLC

Hobbs Group Advisors LLC decreased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 8.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,378 shares of the company’s stock after selling 382 shares during the period. Hobbs Group Advisors LLC’s holdings in Novo Nordisk A/S were worth $302,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of NVO. Revolve Wealth Partners LLC lifted its stake in Novo Nordisk A/S by 8.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock worth $214,000 after acquiring an additional 200 shares in the last quarter. Rhumbline Advisers lifted its stake in Novo Nordisk A/S by 10.2% during the 1st quarter. Rhumbline Advisers now owns 63,539 shares of the company’s stock worth $4,412,000 after acquiring an additional 5,898 shares in the last quarter. GAMMA Investing LLC raised its position in Novo Nordisk A/S by 9.6% in the 1st quarter. GAMMA Investing LLC now owns 9,466 shares of the company’s stock valued at $657,000 after purchasing an additional 827 shares in the last quarter. CX Institutional acquired a new stake in Novo Nordisk A/S in the 1st quarter valued at about $36,000. Finally, Stanley Laman Group Ltd. acquired a new stake in Novo Nordisk A/S in the 1st quarter valued at about $390,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NVO. UBS Group lowered Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 5th. HSBC set a $70.00 price target on Novo Nordisk A/S in a research report on Wednesday, October 1st. TD Cowen reduced their price target on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, August 19th. Zacks Research raised Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Dbs Bank raised Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Friday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned 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 an average price target of $77.50.

Novo Nordisk A/S Trading Down 3.0%

NVO opened at $56.95 on Friday. The business’s 50-day simple moving average is $55.44 and its 200-day simple moving average is $63.16. The company has a market cap of $254.27 billion, a P/E ratio of 15.64, a PEG ratio of 2.58 and a beta of 0.68. 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 has a one year low of $45.05 and a one year high of $120.56.

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

Novo Nordisk A/S Cuts Dividend

The company also recently declared 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 yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 22.53%.

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.