Stanley Laman Group Ltd. Sells 2,087 Shares of Novo Nordisk A/S $NVO

Stanley Laman Group Ltd. cut its position in Novo Nordisk A/S (NYSE:NVO) by 37.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,531 shares of the company’s stock after selling 2,087 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Novo Nordisk A/S were worth $244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. Copeland Capital Management LLC boosted its stake in Novo Nordisk A/S by 184.8% during 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 during the period. North Capital Inc. purchased a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at about $27,000. Stone House Investment Management LLC purchased a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at about $30,000. Disciplina Capital Management LLC boosted its position in shares of Novo Nordisk A/S by 162.3% during the 1st quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock valued at $33,000 after acquiring an additional 297 shares during the last quarter. Finally, Spirit of America Management Corp NY purchased a new position in shares of Novo Nordisk A/S during the first quarter worth about $35,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

NVO stock opened at $54.41 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. The firm has a market cap of $242.93 billion, a P/E ratio of 14.95, a P/E/G ratio of 2.50 and a beta of 0.68. The firm’s fifty day moving average is $56.24 and its 200 day moving average is $62.72. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $118.26.

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

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were given a $0.4119 dividend. The ex-dividend date was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s payout ratio is presently 22.53%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Sanford C. Bernstein raised shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 9th. TD Cowen decreased their price target on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, August 19th. Zacks Research upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Morgan Stanley downgraded shares of Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and dropped their price objective for the stock from $59.00 to $47.00 in a report on Monday, September 29th. Finally, Rothschild Redb raised Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.00.

About Novo Nordisk A/S

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.