Novo Nordisk A/S (NYSE:NVO) Shares Sold by South Street Advisors LLC

South Street Advisors LLC reduced its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 231,519 shares of the company’s stock after selling 3,209 shares during the quarter. Novo Nordisk A/S makes up 5.0% of South Street Advisors LLC’s investment portfolio, making the stock its 4th largest position. South Street Advisors LLC’s holdings in Novo Nordisk A/S were worth $33,047,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Aveo Capital Partners LLC purchased a new stake in shares of Novo Nordisk A/S during the fourth quarter worth about $205,000. 9258 Wealth Management LLC grew its holdings in shares of Novo Nordisk A/S by 4.0% during the fourth quarter. 9258 Wealth Management LLC now owns 2,513 shares of the company’s stock worth $260,000 after buying an additional 97 shares in the last quarter. Rollins Financial grew its holdings in shares of Novo Nordisk A/S by 10.4% during the fourth quarter. Rollins Financial now owns 3,894 shares of the company’s stock worth $403,000 after buying an additional 368 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Novo Nordisk A/S by 38.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock worth $9,781,000 after buying an additional 26,067 shares in the last quarter. Finally, Gryphon Financial Partners LLC purchased a new stake in shares of Novo Nordisk A/S during the fourth quarter worth about $237,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Down 1.6 %

NYSE NVO opened at $129.76 on Wednesday. The company’s fifty day simple moving average is $134.26 and its 200-day simple moving average is $132.73. Novo Nordisk A/S has a 52 week low of $86.96 and a 52 week high of $148.15. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The stock has a market cap of $582.30 billion, a P/E ratio of 44.74, a PEG ratio of 1.43 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Equities research analysts predict that Novo Nordisk A/S will post 3.11 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Investors 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 presently 24.83%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target for the company. BMO Capital Markets decreased their target price on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. 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 raised their target price 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, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and a consensus target price of $145.17.

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.