Sage Mountain Advisors LLC Has $382,000 Position in Novo Nordisk A/S $NVO

Sage Mountain Advisors LLC lessened its holdings in Novo Nordisk A/S (NYSE:NVO) by 5.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 5,536 shares of the company’s stock after selling 320 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Novo Nordisk A/S were worth $382,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVO. Kingstone Capital Partners Texas LLC grew its stake in shares of Novo Nordisk A/S by 301,443.6% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock valued at $690,560,000 after purchasing an additional 10,001,898 shares during the period. Folketrygdfondet boosted its stake in Novo Nordisk A/S by 6.9% in the 1st 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 in the last quarter. Goldman Sachs Group Inc. grew its position 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 acquiring an additional 576,900 shares during the period. Sustainable Growth Advisers LP raised its stake in Novo Nordisk A/S by 3.8% during the first quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company’s stock worth $384,923,000 after acquiring an additional 202,443 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Novo Nordisk A/S during the first quarter valued at $370,272,000. Institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. UBS Group lowered shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a report on Tuesday, August 5th. HSBC set a $70.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, October 1st. BNP Paribas Exane raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price objective for the company in a report on Wednesday, August 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Novo Nordisk A/S in a report on Tuesday, October 14th. Finally, Rothschild & Co Redburn upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.00.

Novo Nordisk A/S Trading Down 0.4%

NVO stock opened at $53.02 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $114.19. The company has a market cap of $236.74 billion, a P/E ratio of 14.57, a PEG ratio of 2.41 and a beta of 0.68. The business has a fifty day moving average of $56.56 and a 200-day moving average of $62.40.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. The business had revenue of $11.69 billion for the quarter, compared to analysts’ expectations of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. As a group, 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 firm also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were given a dividend of $0.4119 per share. The ex-dividend date was Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S’s payout ratio is currently 22.53%.

Novo Nordisk A/S Company 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.