Novo Nordisk A/S $NVO Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 31.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,870 shares of the company’s stock after selling 23,699 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Novo Nordisk A/S were worth $3,511,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Hawaiian Bank raised its holdings in Novo Nordisk A/S by 0.6% in the 1st 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 during the last quarter. Anchor Investment Management LLC raised its holdings 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 valued at $944,000 after acquiring an additional 150 shares during the last quarter. Xponance Inc. raised its holdings in Novo Nordisk A/S by 5.0% in the 1st 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 holdings in shares of 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 buying an additional 166 shares during the last quarter. Finally, PFG Investments LLC increased its holdings in shares of Novo Nordisk A/S by 1.0% during the 1st quarter. PFG Investments LLC now owns 18,102 shares of the company’s stock worth $1,257,000 after buying an additional 178 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NVO. Rothschild Redb raised shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 16th. HSBC set a $70.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, October 1st. Berenberg Bank raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price objective on the stock in a research note on Wednesday, August 13th. Finally, Zacks Research upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $76.00.

Novo Nordisk A/S Trading Up 0.1%

Shares of NYSE:NVO opened at $56.72 on Thursday. The stock has a market capitalization of $253.23 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 2.60 and a beta of 0.68. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $119.07. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. The company has a 50 day moving average price of $56.03 and a 200 day moving average price of $62.94.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $77.51 billion. On average, research 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 declared 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. The ex-dividend date was Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 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.