Novo Nordisk A/S $NVO Stock Position Lowered by Traynor Capital Management Inc.

Traynor Capital Management Inc. cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 15.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 232,430 shares of the company’s stock after selling 42,982 shares during the period. Traynor Capital Management Inc.’s holdings in Novo Nordisk A/S were worth $8,811,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of NVO. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Novo Nordisk A/S during the 3rd quarter valued at $10,006,000. Profund Advisors LLC boosted its stake in Novo Nordisk A/S by 12.0% in the 3rd quarter. Profund Advisors LLC now owns 21,874 shares of the company’s stock worth $829,000 after purchasing an additional 2,352 shares during the period. Vise Technologies Inc. boosted its stake in Novo Nordisk A/S by 26.9% in the 3rd quarter. Vise Technologies Inc. now owns 70,350 shares of the company’s stock worth $2,667,000 after purchasing an additional 14,915 shares during the period. Americana Partners LLC grew its holdings in Novo Nordisk A/S by 2.5% during the 3rd quarter. Americana Partners LLC now owns 99,180 shares of the company’s stock valued at $3,760,000 after buying an additional 2,423 shares in the last quarter. Finally, Armstrong Fleming & Moore Inc grew its holdings in Novo Nordisk A/S by 30.9% during the 3rd quarter. Armstrong Fleming & Moore Inc now owns 6,774 shares of the company’s stock valued at $257,000 after buying an additional 1,601 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

NYSE:NVO opened at $39.96 on Monday. The firm has a market capitalization of $178.42 billion, a price-to-earnings ratio of 9.77, a P/E/G ratio of 1.36 and a beta of 0.70. Novo Nordisk A/S has a 52-week low of $35.12 and a 52-week high of $64.16. The stock has a fifty day moving average of $41.23 and a 200 day moving average of $44.34. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.66 and a current ratio of 0.87.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Tuesday, June 30th. The company reported $0.94 EPS for the quarter. The business had revenue of $11.98 billion during the quarter. Novo Nordisk A/S had a return on equity of 58.61% and a net margin of 35.36%. On average, research analysts expect that Novo Nordisk A/S will post 3.42 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a dividend, which was paid on Tuesday, August 25th. Stockholders of record on Monday, August 17th were given a dividend of $0.5786 per share. This is a drop from Novo Nordisk A/S’s previous dividend of $1.2751. The ex-dividend date was Monday, August 17th. This represents a dividend yield of 258.0%. Novo Nordisk A/S’s dividend payout ratio is 20.05%.

Analyst Upgrades and Downgrades

NVO has been the topic of several analyst reports. UBS Group reiterated a “neutral” rating on shares of Novo Nordisk A/S in a research report on Monday, September 21st. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Novo Nordisk A/S in a research report on Tuesday, September 29th. Cfra cut shares of Novo Nordisk A/S from a “hold” rating to a “sell” rating and set a $38.00 price objective for the company. in a research note on Tuesday, September 22nd. HSBC reaffirmed a “hold” rating on shares of Novo Nordisk A/S in a report on Thursday, September 10th. Finally, Jefferies Financial Group reiterated a “neutral” rating on shares of Novo Nordisk A/S in a research note on Monday, September 21st. Five analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $59.44.

Novo Nordisk A/S Profile

Novo Nordisk A/S is a Danish pharmaceutical company headquartered in Bagsværd, Denmark. The company focuses on developing and manufacturing medicines and delivery systems for chronic diseases, with a primary emphasis on diabetes and obesity care.

Novo Nordisk offers a broad portfolio of insulin products, as well as glucagon-like peptide-1 (GLP-1) medicines used in diabetes management and weight treatment. Its well-known products include Ozempic and Rybelsus for type 2 diabetes, Wegovy for chronic weight management, and several modern and human insulin products.