Harbour Investments Inc. Cuts Stock Holdings in Novo Nordisk A/S $NVO

Harbour Investments Inc. decreased its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 9.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,137 shares of the company’s stock after selling 889 shares during the quarter. Harbour Investments Inc.’s holdings in Novo Nordisk A/S were worth $562,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of NVO. Copeland Capital Management LLC grew its holdings in shares of Novo Nordisk A/S by 184.8% during the first quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock worth $27,000 after purchasing an additional 255 shares in the last quarter. North Capital Inc. bought a new stake in Novo Nordisk A/S in the 1st quarter worth approximately $27,000. Stone House Investment Management LLC bought a new stake in Novo Nordisk A/S in the 1st quarter worth approximately $30,000. Disciplina Capital Management LLC lifted its position in Novo Nordisk A/S by 162.3% in the 1st quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock worth $33,000 after buying an additional 297 shares during the last quarter. Finally, Dagco Inc. bought a new stake in Novo Nordisk A/S in the 1st quarter worth approximately $35,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 3.0%

Shares of Novo Nordisk A/S stock opened at $54.41 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. Novo Nordisk A/S has a 52-week low of $45.05 and a 52-week high of $118.26. The stock has a market capitalization 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. The company’s 50 day moving average price is $56.24 and its 200-day moving average price is $62.69.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (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 firm had revenue of $11.69 billion for the quarter, compared to analysts’ expectations of $77.51 billion. Equities research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Investors 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 is currently 22.53%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NVO shares. Morgan Stanley downgraded Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and dropped their target price for the stock from $59.00 to $47.00 in a research report on Monday, September 29th. BMO Capital Markets restated a “market perform” rating and issued a $55.00 target price (up previously from $50.00) on shares of Novo Nordisk A/S in a research report on Tuesday, October 14th. Berenberg Bank upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. Weiss Ratings restated a “hold (c)” rating on shares of Novo Nordisk A/S in a research report on Tuesday, October 14th. Finally, Zacks Research upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Two research 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’s stock. According to data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.00.

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.