Ingalls & Snyder LLC Sells 1,130 Shares of Novo Nordisk A/S $NVO

Ingalls & Snyder LLC cut its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 2.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,681 shares of the company’s stock after selling 1,130 shares during the quarter. Ingalls & Snyder LLC’s holdings in Novo Nordisk A/S were worth $3,498,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Copeland Capital Management LLC increased its holdings in Novo Nordisk A/S by 184.8% in the 1st 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. acquired a new position in Novo Nordisk A/S during the first quarter worth about $27,000. Stone House Investment Management LLC bought a new position in shares of Novo Nordisk A/S in the first quarter worth about $30,000. Disciplina Capital Management LLC boosted its stake in shares of Novo Nordisk A/S by 162.3% in the 1st quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock valued at $33,000 after purchasing an additional 297 shares in the last quarter. Finally, Dagco Inc. bought a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at approximately $35,000. 11.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 9th. UBS Group lowered Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 5th. Zacks Research upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. BMO Capital Markets reissued a “market perform” rating and set a $55.00 price target (up from $50.00) on shares of Novo Nordisk A/S in a research note on Tuesday, October 14th. Finally, Hsbc Global Res raised Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and an average target price of $76.00.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $53.02 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. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $114.19. The company has a 50 day simple moving average of $56.56 and a two-hundred day simple moving average of $62.40. The company has a market capitalization of $236.74 billion, a PE ratio of 14.57, a P/E/G ratio of 2.41 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. The company had revenue of $11.69 billion during 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%. Research analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were paid a $0.4119 dividend. 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 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.