Ritholtz Wealth Management Decreases Position in Novo Nordisk A/S $NVO

Ritholtz Wealth Management trimmed its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 3.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,017 shares of the company’s stock after selling 3,292 shares during the quarter. Ritholtz Wealth Management’s holdings in Novo Nordisk A/S were worth $6,972,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

NVO has been the subject of a number of research analyst reports. Rothschild Redb upgraded Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 16th. TD Cowen reduced 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 note on Tuesday, August 19th. BNP Paribas upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research report on Wednesday, August 13th. HSBC set a $70.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, October 1st. Finally, UBS Group cut shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 5th. Two 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $76.00.

Novo Nordisk A/S Stock Down 1.4%

Shares of NVO stock opened at $56.67 on Wednesday. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $119.09. The stock has a market cap of $253.03 billion, a P/E ratio of 15.57, a P/E/G ratio of 2.60 and a beta of 0.68. The stock has a 50 day moving average of $55.80 and a 200 day moving average of $62.98. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO) last released 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. The business had revenue of $11.69 billion for the quarter, compared to analyst estimates 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, sell-side analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current 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 given 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%.

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.