HBK Sorce Advisory LLC Sells 303 Shares of Novo Nordisk A/S $NVO

HBK Sorce Advisory LLC lowered its position in shares of Novo Nordisk A/S (NYSE:NVO) by 2.7% during the second quarter, HoldingsChannel.com reports. The fund owned 10,851 shares of the company’s stock after selling 303 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Novo Nordisk A/S were worth $749,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of NVO. North Capital Inc. bought a new stake in Novo Nordisk A/S during the first quarter valued at $27,000. Stone House Investment Management LLC bought a new stake in Novo Nordisk A/S during the first quarter valued at $30,000. Disciplina Capital Management LLC boosted its position in Novo Nordisk A/S by 162.3% during the first 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. Dagco Inc. bought a new stake in Novo Nordisk A/S during the first quarter valued at $35,000. Finally, Mid American Wealth Advisory Group Inc. bought a new stake in Novo Nordisk A/S during the second quarter valued at $37,000. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NVO stock opened at $49.40 on Friday. The stock has a market capitalization of $220.58 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 2.33 and a beta of 0.68. The company’s 50-day moving average is $56.17 and its 200-day moving average is $61.94. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $113.02.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping 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 company had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. Equities research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of Novo Nordisk A/S in a research report on Monday, October 27th. They set an “underperform” rating on the stock. Rothschild Redb raised shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Novo Nordisk A/S in a research report on Tuesday, October 14th. Hsbc Global Res raised shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Finally, TD Cowen cut 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 research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Hold” and a consensus target price of $76.00.

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.