Stanley Laman Group Ltd. Decreases Stock Holdings in Novo Nordisk A/S $NVO

Stanley Laman Group Ltd. trimmed its position in shares of Novo Nordisk A/S (NYSE:NVO) by 37.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,531 shares of the company’s stock after selling 2,087 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Novo Nordisk A/S were worth $244,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Unified Investment Management bought a new stake in shares of Novo Nordisk A/S in the 2nd quarter worth approximately $692,000. Acadian Asset Management LLC lifted its stake in Novo Nordisk A/S by 15,919.9% in the first quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock worth $72,523,000 after acquiring an additional 1,038,137 shares during the period. Norden Group LLC boosted its holdings in Novo Nordisk A/S by 216.3% in the second quarter. Norden Group LLC now owns 96,332 shares of the company’s stock valued at $6,649,000 after acquiring an additional 65,877 shares in the last quarter. Guild Investment Management Inc. boosted its holdings in Novo Nordisk A/S by 20.7% in the second quarter. Guild Investment Management Inc. now owns 36,995 shares of the company’s stock valued at $2,553,000 after acquiring an additional 6,345 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in Novo Nordisk A/S by 48.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 103,138 shares of the company’s stock valued at $7,119,000 after purchasing an additional 33,794 shares during the period. 11.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NVO has been the subject of several research analyst reports. BNP Paribas Exane raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 target price for the company in a research report on Wednesday, August 13th. UBS Group cut Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 5th. Morgan Stanley lowered Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and decreased their target price for the stock from $59.00 to $47.00 in a research report on Monday, September 29th. Sanford C. Bernstein upgraded Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 9th. Finally, 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 note on Tuesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.00.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $54.41 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The stock has a market cap of $242.93 billion, a P/E ratio of 14.95, a P/E/G ratio of 2.50 and a beta of 0.68. The business’s 50 day moving average price is $56.24 and its 200-day moving average price is $62.72. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $118.26.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The business had revenue of $11.69 billion during the quarter, compared to analysts’ expectations of $77.51 billion. Equities research analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share 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 $0.4119 dividend. The ex-dividend date was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s payout ratio is presently 22.53%.

Novo Nordisk A/S 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.