Migdal Insurance & Financial Holdings Ltd. Cuts Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Migdal Insurance & Financial Holdings Ltd. reduced its position in shares of Novo Nordisk A/S (NYSE:NVO) by 2.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,078 shares of the company’s stock after selling 183 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Novo Nordisk A/S were worth $1,155,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of NVO. Valmark Advisers Inc. increased its stake in Novo Nordisk A/S by 82.4% during the 4th quarter. Valmark Advisers Inc. now owns 5,257 shares of the company’s stock worth $544,000 after buying an additional 2,375 shares in the last quarter. Principle Wealth Partners LLC acquired a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at approximately $390,000. Stonebrook Private Inc. purchased a new position in Novo Nordisk A/S during the fourth quarter worth approximately $235,000. Intellectus Partners LLC boosted its stake in Novo Nordisk A/S by 11.4% during the fourth quarter. Intellectus Partners LLC now owns 8,270 shares of the company’s stock worth $856,000 after buying an additional 848 shares during the last quarter. Finally, Choreo LLC grew its holdings in Novo Nordisk A/S by 6.7% in the 4th quarter. Choreo LLC now owns 3,108 shares of the company’s stock valued at $322,000 after buying an additional 194 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NVO has been the topic of several recent research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday, August 19th. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 19th. The Goldman Sachs Group began coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target on the stock. Argus raised their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Finally, BMO Capital Markets lowered their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $145.17.

Novo Nordisk A/S Trading Up 2.3 %

NYSE NVO traded up $3.04 during trading on Thursday, hitting $137.52. The stock had a trading volume of 2,754,057 shares, compared to its average volume of 4,378,463. The company has a market capitalization of $617.13 billion, a PE ratio of 47.42, a PEG ratio of 1.33 and a beta of 0.41. Novo Nordisk A/S has a twelve month low of $86.96 and a twelve month high of $148.15. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average price of $135.88 and a 200 day moving average price of $131.89.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. As a group, equities research analysts forecast that Novo Nordisk A/S will post 3.38 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were paid a $0.5126 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is 24.83%.

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.