Tritonpoint Wealth LLC Sells 3,422 Shares of Novo Nordisk A/S $NVO

Tritonpoint Wealth LLC lessened its position in shares of Novo Nordisk A/S (NYSE:NVO) by 20.9% in the second quarter, HoldingsChannel reports. The fund owned 12,956 shares of the company’s stock after selling 3,422 shares during the period. Tritonpoint Wealth LLC’s holdings in Novo Nordisk A/S were worth $894,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in NVO. Copeland Capital Management LLC raised its position in shares of Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock valued at $27,000 after buying an additional 255 shares in the last quarter. North Capital Inc. acquired a new stake in shares of Novo Nordisk A/S in the first quarter valued at approximately $27,000. Stone House Investment Management LLC acquired a new stake in shares of Novo Nordisk A/S in the first quarter valued at approximately $30,000. Disciplina Capital Management LLC raised its position in shares of Novo Nordisk A/S by 162.3% in the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock valued at $33,000 after buying an additional 297 shares in the last quarter. Finally, Spirit of America Management Corp NY acquired a new stake in shares of Novo Nordisk A/S in the first quarter valued at approximately $35,000. Institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

NVO has been the subject of a number of analyst reports. TD Cowen dropped their price target on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, August 19th. HSBC downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $57.00 price target for the company. in a research report on Thursday, July 31st. UBS Group downgraded shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 5th. Dbs Bank raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Friday, August 22nd. Finally, Zacks Research cut shares of Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Hold” and a consensus target price of $81.00.

Novo Nordisk A/S Stock Performance

Shares of NYSE:NVO opened at $55.61 on Monday. The company’s 50 day simple moving average is $56.03 and its 200 day simple moving average is $64.38. The stock has a market capitalization of $248.30 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 2.11 and a beta of 0.66. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $121.34.

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

Novo Nordisk A/S Cuts Dividend

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