Harbour Investments Inc. Sells 889 Shares of Novo Nordisk A/S $NVO

Harbour Investments Inc. trimmed its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 9.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,137 shares of the company’s stock after selling 889 shares during the period. Harbour Investments Inc.’s holdings in Novo Nordisk A/S were worth $562,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. North Capital Inc. bought a new stake in shares of Novo Nordisk A/S during the 1st quarter worth $27,000. Copeland Capital Management LLC raised its stake in shares of Novo Nordisk A/S by 184.8% during the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock worth $27,000 after purchasing an additional 255 shares during the period. Stone House Investment Management LLC bought a new stake in shares of Novo Nordisk A/S during the 1st quarter worth $30,000. Disciplina Capital Management LLC raised its stake 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 worth $33,000 after purchasing an additional 297 shares during the period. Finally, Dagco Inc. bought a new stake in shares of Novo Nordisk A/S during the 1st quarter worth $35,000. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Trading Down 3.0%

Shares of NVO opened at $54.41 on Monday. The business’s 50-day moving average price is $56.24 and its 200-day moving average price is $62.69. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $118.26. The stock has a market cap of $242.93 billion, a PE ratio of 14.95, a P/E/G ratio of 2.50 and a beta of 0.68. 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 (NYSE:NVO) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate 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. On average, equities analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business 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 dividend payout ratio is currently 22.53%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. HSBC set a $70.00 price objective on Novo Nordisk A/S in a report on Wednesday, October 1st. BMO Capital Markets reissued a “market perform” rating and issued a $55.00 price objective (up previously from $50.00) on shares of Novo Nordisk A/S in a report on Tuesday, October 14th. Hsbc Global Res raised Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Sanford C. Bernstein raised Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 9th. Finally, TD Cowen decreased their price objective on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, August 19th. Two investment 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.