TFC Financial Management Inc. Sells 485 Shares of Novo Nordisk A/S $NVO

TFC Financial Management Inc. decreased its holdings in Novo Nordisk A/S (NYSE:NVO) by 14.6% in the second quarter, Holdings Channel reports. The fund owned 2,840 shares of the company’s stock after selling 485 shares during the quarter. TFC Financial Management Inc.’s holdings in Novo Nordisk A/S were worth $196,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NVO. Revolve Wealth Partners LLC lifted its holdings in shares of Novo Nordisk A/S by 8.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock valued at $214,000 after acquiring an additional 200 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Novo Nordisk A/S by 9.6% in the 1st quarter. GAMMA Investing LLC now owns 9,466 shares of the company’s stock valued at $657,000 after acquiring an additional 827 shares during the last quarter. Inscription Capital LLC bought a new position in shares of Novo Nordisk A/S in the 1st quarter valued at about $335,000. Clarius Group LLC lifted its holdings in shares of Novo Nordisk A/S by 21.5% in the 1st quarter. Clarius Group LLC now owns 13,281 shares of the company’s stock valued at $922,000 after acquiring an additional 2,351 shares during the last quarter. Finally, Cornerstone Wealth Management LLC lifted its holdings in shares of Novo Nordisk A/S by 22.8% in the 1st quarter. Cornerstone Wealth Management LLC now owns 6,864 shares of the company’s stock valued at $477,000 after acquiring an additional 1,275 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

NVO has been the subject of a number of analyst reports. UBS Group downgraded shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a report on Tuesday, August 5th. Zacks Research raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Wall Street Zen lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Sanford C. Bernstein raised shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 9th. Finally, TD Cowen reduced their price objective on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, August 19th. Two 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 given a Sell rating to the company. Based on data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and an average target price of $76.00.

Novo Nordisk A/S Stock Down 1.1%

Shares of NVO opened at $56.07 on Friday. The firm has a market capitalization of $250.35 billion, a P/E ratio of 15.40, a P/E/G ratio of 2.61 and a beta of 0.68. Novo Nordisk A/S has a 12-month low of $45.05 and a 12-month high of $119.07. 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 firm has a fifty day moving average price of $56.17 and a 200-day moving average price of $62.85.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, August 6th. The company reported $0.97 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 analyst estimates of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. Equities research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

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