Mezzasalma Advisors LLC Has $983,000 Stock Holdings in Novo Nordisk A/S $NVO

Mezzasalma Advisors LLC cut its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 11.5% in the second quarter, Holdings Channel reports. The fund owned 14,239 shares of the company’s stock after selling 1,855 shares during the period. Mezzasalma Advisors LLC’s holdings in Novo Nordisk A/S were worth $983,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. First Hawaiian Bank grew its stake 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 purchasing an additional 142 shares during the last quarter. Anchor Investment Management LLC lifted its stake in shares of Novo Nordisk A/S by 1.1% during the first quarter. Anchor Investment Management LLC now owns 13,597 shares of the company’s stock valued at $944,000 after acquiring an additional 150 shares during the period. Xponance Inc. boosted its holdings in Novo Nordisk A/S by 5.0% in the first quarter. Xponance Inc. now owns 3,314 shares of the company’s stock valued at $230,000 after acquiring an additional 158 shares during the last quarter. Foster Dykema Cabot & Partners LLC increased its position in Novo Nordisk A/S by 3.8% in the first 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 period. Finally, Werba Rubin Papier Wealth Management raised its holdings in Novo Nordisk A/S by 4.1% during the 2nd quarter. Werba Rubin Papier Wealth Management now owns 4,378 shares of the company’s stock worth $302,000 after purchasing an additional 173 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Trading Down 3.0%

Shares of NYSE NVO opened at $54.41 on Friday. The company’s fifty day moving average is $56.24 and its 200-day moving average is $62.72. The stock has a market cap of $242.93 billion, a price-to-earnings ratio of 14.95, a P/E/G ratio of 2.50 and a beta of 0.68. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $118.26. The company has a quick ratio of 0.56, a current ratio of 0.78 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, beating analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $11.69 billion during the quarter, compared to analysts’ expectations of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. Equities research analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed 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 payout ratio is 22.53%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NVO. HSBC set a $70.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, October 1st. TD Cowen reduced their price objective on shares of 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. Rothschild & Co Redburn upgraded shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 16th. Sanford C. Bernstein upgraded Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 9th. Finally, BNP Paribas Exane raised Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price objective for the company in a research note on Wednesday, August 13th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $76.00.

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.