17,650 Novo Nordisk A/S $NVO Shares Sold by Meridian Investment Counsel Inc.

Meridian Investment Counsel Inc. lowered its stake in Novo Nordisk A/S (NYSE:NVO) by 28.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 45,441 shares of the company’s stock after selling 17,650 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in Novo Nordisk A/S were worth $1,723,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Scarborough Advisors LLC bought a new position in shares of Novo Nordisk A/S during the 1st quarter valued at approximately $26,000. Continuum Advisory LLC purchased a new stake in Novo Nordisk A/S in the 2nd quarter worth approximately $38,000. Markowski Investments bought a new stake in Novo Nordisk A/S during the 2nd quarter worth approximately $43,000. Cassaday & Co Wealth Management LLC bought a new stake in Novo Nordisk A/S during the 1st quarter worth approximately $45,000. Finally, SHP Wealth Management purchased a new position in Novo Nordisk A/S during the fourth quarter valued at approximately $67,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Up 0.2%

NVO stock opened at $38.14 on Thursday. Novo Nordisk A/S has a 1-year low of $35.12 and a 1-year high of $64.16. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.87 and a quick ratio of 0.66. The company has a market capitalization of $170.30 billion, a price-to-earnings ratio of 9.47, a PEG ratio of 1.29 and a beta of 0.76. The business has a 50 day simple moving average of $43.00 and a two-hundred day simple moving average of $43.91.

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

Novo Nordisk A/S Cuts Dividend

The business also recently announced a dividend, which was paid on Tuesday, August 25th. Investors of record on Monday, August 17th were given a dividend of $0.5786 per share. This is a negative change from Novo Nordisk A/S’s previous dividend of $1.2751. This represents a dividend yield of 258.0%. The ex-dividend date was Monday, August 17th. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 20.05%.

Analyst Ratings Changes

NVO has been the subject of a number of recent analyst reports. UBS Group reiterated a “neutral” rating on shares of Novo Nordisk A/S in a research report on Monday, September 21st. 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. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Novo Nordisk A/S in a research report on Tuesday, September 29th. Wall Street Zen cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Zacks Research upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Five analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Hold” and a consensus price target of $59.44.

Novo Nordisk A/S News Summary

Here are the key news stories impacting Novo Nordisk A/S this week:

• Positive Sentiment: Novo Nordisk has repurchased approximately DKK 10.5 billion of shares under its DKK 15 billion program, supporting per-share value and signaling that management views the stock as undervalued. The company plans to allocate up to DKK 11.2 billion toward B shares through early 2027. Novo Nordisk’s Buyback Clears 10.5 Billion DKK as FDA Delay Clouds Denecimig Launch
• Positive Sentiment: Some valuation analysis argues that NVO could be materially undervalued after its steep multi-year decline, with the buyback potentially helping refocus investors on the company’s earnings power. Novo Nordisk Could Be 63% Undervalued Following Its Share Buyback
• Positive Sentiment: Novo Nordisk signed a non-exclusive license agreement with Ablexis to use its AlivaMab antibody-discovery platforms, expanding the tools available for developing future biologic medicines. The financial impact was not disclosed, so benefits are longer term. Ablexis Announces License Agreement with Novo

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a Denmark-based global pharmaceutical company focused on treatments for diabetes, obesity and other serious chronic diseases. Its portfolio includes injectable and oral medicines for diabetes, including insulin products and the GLP-1 therapies Ozempic and Rybelsus, as well as the obesity treatment Wegovy.

The company also develops and markets products for rare blood disorders, including hemophilia, along with growth hormone therapies and hormone replacement treatments.