Flagship Harbor Advisors LLC Cuts Stock Position in Novo Nordisk A/S $NVO

Flagship Harbor Advisors LLC lessened its holdings in Novo Nordisk A/S (NYSE:NVO) by 21.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 11,133 shares of the company’s stock after selling 3,002 shares during the period. Flagship Harbor Advisors LLC’s holdings in Novo Nordisk A/S were worth $768,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. North Capital Inc. purchased a new stake in Novo Nordisk A/S in the 1st quarter worth $27,000. Stone House Investment Management LLC purchased a new stake in Novo Nordisk A/S in the 1st quarter worth $30,000. Disciplina Capital Management LLC increased its stake in Novo Nordisk A/S by 162.3% in the 1st quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock worth $33,000 after buying an additional 297 shares in the last quarter. Dagco Inc. purchased a new stake in Novo Nordisk A/S in the 1st quarter worth $35,000. Finally, Mid American Wealth Advisory Group Inc. purchased a new stake in Novo Nordisk A/S in the 2nd quarter worth $37,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 2.6%

NVO opened at $50.03 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 52 week low of $45.05 and a 52 week high of $113.02. The firm has a 50-day simple moving average of $56.32 and a two-hundred day simple moving average of $62.05. The company has a market capitalization of $223.38 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 2.33 and a beta of 0.68.

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

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were issued a $0.4119 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 22.53%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NVO. UBS Group lowered Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 5th. BNP Paribas raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a report on Wednesday, August 13th. Jefferies Financial Group assumed coverage on shares of Novo Nordisk A/S in a report on Monday. They set an “underperform” rating for the company. Hsbc Global Res raised shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Dbs Bank raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Friday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.