IFC Advisors LLC Trims Stake in Novo Nordisk A/S $NVO

IFC Advisors LLC reduced its position in shares of Novo Nordisk A/S (NYSE:NVO) by 5.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,582 shares of the company’s stock after selling 219 shares during the period. IFC Advisors LLC’s holdings in Novo Nordisk A/S were worth $247,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVO. Revolve Wealth Partners LLC grew its position in Novo Nordisk A/S by 8.7% in the fourth 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. GAMMA Investing LLC grew its position in Novo Nordisk A/S by 9.6% in the first quarter. GAMMA Investing LLC now owns 9,466 shares of the company’s stock worth $657,000 after acquiring an additional 827 shares in the last quarter. CX Institutional bought a new stake in Novo Nordisk A/S in the first quarter worth $36,000. Sound Income Strategies LLC boosted its position in Novo Nordisk A/S by 69.6% during the first quarter. Sound Income Strategies LLC now owns 914 shares of the company’s stock valued at $63,000 after buying an additional 375 shares during the period. Finally, North Star Investment Management Corp. boosted its position in Novo Nordisk A/S by 18.2% during the first quarter. North Star Investment Management Corp. now owns 20,742 shares of the company’s stock valued at $1,440,000 after buying an additional 3,200 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NVO. UBS Group lowered shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 5th. Barclays restated an “equal weight” rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 9th. Rothschild & Co Redburn upgraded shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, September 16th. Finally, Rothschild Redb upgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 16th. Two investment 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 company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.50.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $57.51 on Tuesday. 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 has a one year low of $45.05 and a one year high of $120.47. The company has a 50-day simple moving average of $55.61 and a two-hundred day simple moving average of $63.03. The firm has a market capitalization of $256.76 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 2.58 and a beta of 0.68.

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

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were issued 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 (DPR) is presently 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.