Woodmont Investment Counsel LLC Sells 80,833 Shares of Novo Nordisk A/S $NVO

Woodmont Investment Counsel LLC lessened its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 68.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,589 shares of the company’s stock after selling 80,833 shares during the period. Woodmont Investment Counsel LLC’s holdings in Novo Nordisk A/S were worth $2,594,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kingstone Capital Partners Texas LLC raised its stake in Novo Nordisk A/S by 301,443.6% in the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock valued at $690,560,000 after buying an additional 10,001,898 shares during the period. Folketrygdfondet raised its stake in Novo Nordisk A/S by 6.9% in the first quarter. Folketrygdfondet now owns 9,521,912 shares of the company’s stock valued at $661,202,000 after buying an additional 617,974 shares during the period. Goldman Sachs Group Inc. raised its stake in Novo Nordisk A/S by 11.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company’s stock valued at $395,291,000 after buying an additional 576,900 shares during the period. Sustainable Growth Advisers LP raised its stake in Novo Nordisk A/S by 3.8% in the first quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company’s stock valued at $384,923,000 after buying an additional 202,443 shares during the period. Finally, Nuveen LLC bought a new stake in Novo Nordisk A/S in the first quarter valued at approximately $370,272,000. Institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Sanford C. Bernstein upgraded Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 9th. Wall Street Zen lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Zacks Research raised Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Hsbc Global Res raised Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Finally, Rothschild Redb raised Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $77.50.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock opened at $59.68 on Monday. The company has a market capitalization of $266.45 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 2.63 and a beta of 0.68. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $120.56. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average is $54.92 and its 200-day moving average is $63.63.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $11.69 billion for the quarter, compared to the consensus estimate of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Equities research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were given a dividend of $0.4119 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio 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.