First Business Financial Services Inc. Has $419,000 Position in Novo Nordisk A/S (NYSE:NVO)

First Business Financial Services Inc. cut its position in Novo Nordisk A/S (NYSE:NVO) by 4.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,934 shares of the company’s stock after selling 148 shares during the quarter. First Business Financial Services Inc.’s holdings in Novo Nordisk A/S were worth $419,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in shares of Novo Nordisk A/S by 38.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock valued at $9,781,000 after buying an additional 26,067 shares in the last quarter. McKinley Carter Wealth Services Inc. increased its position in Novo Nordisk A/S by 37.0% during the 4th quarter. McKinley Carter Wealth Services Inc. now owns 60,356 shares of the company’s stock worth $6,244,000 after purchasing an additional 16,293 shares in the last quarter. Bank of New Hampshire increased its position in Novo Nordisk A/S by 1,356.8% during the 1st quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock worth $1,702,000 after purchasing an additional 12,347 shares in the last quarter. Cim LLC acquired a new position in Novo Nordisk A/S during the 4th quarter worth approximately $23,547,000. Finally, Burford Brothers Inc. acquired a new position in Novo Nordisk A/S during the 4th quarter worth approximately $1,045,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Down 2.9 %

Shares of Novo Nordisk A/S stock traded down $3.88 during trading on Thursday, reaching $130.65. 1,525,505 shares of the company traded hands, compared to its average volume of 4,324,966. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. Novo Nordisk A/S has a 1-year low of $86.96 and a 1-year high of $148.15. The company has a 50 day moving average price of $135.30 and a 200-day moving average price of $132.43. The firm has a market capitalization of $586.30 billion, a PE ratio of 45.30, a P/E/G ratio of 1.52 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate 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 87.43% and a net margin of 34.86%. As a group, equities research analysts expect that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were given a dividend of $0.5126 per share. The ex-dividend date was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s payout ratio is 24.83%.

Analysts Set New Price Targets

A number of research firms recently issued reports on NVO. 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. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday, August 19th. Argus upped their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, BMO Capital Markets reduced their price objective on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and a consensus target price of $145.17.

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.