Stegent Equity Advisors Inc. Sells 805 Shares of Novo Nordisk A/S (NYSE:NVO)

Stegent Equity Advisors Inc. reduced its position in shares of Novo Nordisk A/S (NYSE:NVO) by 7.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,413 shares of the company’s stock after selling 805 shares during the period. Novo Nordisk A/S comprises about 1.5% of Stegent Equity Advisors Inc.’s investment portfolio, making the stock its 27th biggest position. Stegent Equity Advisors Inc.’s holdings in Novo Nordisk A/S were worth $1,486,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. GQG Partners LLC raised its stake in shares of Novo Nordisk A/S by 654.6% in the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after acquiring an additional 3,151,584 shares during the last quarter. Capital International Investors raised its stake in shares of Novo Nordisk A/S by 22.3% in the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after acquiring an additional 1,297,536 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Novo Nordisk A/S by 1,300.8% in the first quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock worth $159,703,000 after acquiring an additional 1,155,313 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Novo Nordisk A/S by 10.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after acquiring an additional 823,036 shares during the last quarter. Finally, Norden Group LLC raised its stake in shares of Novo Nordisk A/S by 2,456.0% in the first quarter. Norden Group LLC now owns 658,856 shares of the company’s stock worth $84,597,000 after acquiring an additional 633,079 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NVO has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, August 19th. The Goldman Sachs Group assumed 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 for the company. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. Argus lifted their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, BMO Capital Markets lowered their price target on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $145.17.

Novo Nordisk A/S Trading Up 1.2 %

NYSE NVO traded up $1.64 during trading on Friday, reaching $139.16. 2,718,338 shares of the stock traded hands, compared to its average volume of 4,187,164. The firm has a market cap of $624.48 billion, a price-to-earnings ratio of 47.99, a price-to-earnings-growth ratio of 1.52 and a beta of 0.41. The stock’s 50-day moving average price is $135.76 and its 200 day moving average price is $132.15. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a fifty-two week low of $86.96 and a fifty-two week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data 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 firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. Analysts predict that Novo Nordisk A/S will post 3.11 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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

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.