Cavalier Investments LLC Sells 460 Shares of Novo Nordisk A/S $NVO

Cavalier Investments LLC trimmed its position in shares of Novo Nordisk A/S (NYSE:NVO) by 2.0% in the second quarter, Holdings Channel reports. The fund owned 22,929 shares of the company’s stock after selling 460 shares during the quarter. Cavalier Investments LLC’s holdings in Novo Nordisk A/S were worth $1,583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC boosted its holdings in Novo Nordisk A/S by 301,443.6% during the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock valued at $690,560,000 after acquiring an additional 10,001,898 shares during the period. Folketrygdfondet lifted its stake in shares of Novo Nordisk A/S by 6.9% in the first 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 during the period. Goldman Sachs Group Inc. lifted its stake in shares of 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 buying an additional 576,900 shares during the period. Sustainable Growth Advisers LP lifted its stake in shares of Novo Nordisk A/S by 3.8% in the first quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company’s stock valued at $384,923,000 after buying an additional 202,443 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Novo Nordisk A/S in the first quarter valued at about $370,272,000. 11.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on NVO. Wall Street Zen cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Hsbc Global Res upgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 9th. BNP Paribas upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Novo Nordisk A/S in a research note on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, seven have given 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.00.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $54.77 on Wednesday. Novo Nordisk A/S has a 12-month low of $45.05 and a 12-month high of $116.65. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $244.55 billion, a PE ratio of 15.05, a price-to-earnings-growth ratio of 2.53 and a beta of 0.68. The firm has a 50-day moving average price of $56.46 and a 200 day moving average price of $62.58.

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, topping the consensus estimate 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 analyst estimates of $77.51 billion. Research analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

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.