Stegent Equity Advisors Inc. Trims Stock Position in Novo Nordisk A/S $NVO

Stegent Equity Advisors Inc. cut its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 72.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,243 shares of the company’s stock after selling 13,904 shares during the quarter. Stegent Equity Advisors Inc.’s holdings in Novo Nordisk A/S were worth $362,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC raised its holdings 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 worth $690,560,000 after purchasing an additional 10,001,898 shares during the period. Folketrygdfondet raised its holdings in shares of Novo Nordisk A/S by 6.9% in the 1st quarter. Folketrygdfondet now owns 9,521,912 shares of the company’s stock worth $661,202,000 after purchasing an additional 617,974 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Novo Nordisk A/S by 11.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company’s stock worth $395,291,000 after purchasing an additional 576,900 shares during the period. Sustainable Growth Advisers LP raised its holdings in shares of Novo Nordisk A/S by 3.8% in the 1st quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company’s stock worth $384,923,000 after purchasing an additional 202,443 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Novo Nordisk A/S in the 1st quarter worth about $370,272,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

NVO stock opened at $53.02 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $114.19. The firm has a market cap of $236.74 billion, a P/E ratio of 14.57, a price-to-earnings-growth ratio of 2.41 and a beta of 0.68. The stock has a 50-day simple moving average of $56.56 and a 200-day simple moving average of $62.40.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. On average, equities analysts predict 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 disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were paid a dividend of $0.4119 per share. This represents a yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio (DPR) is 22.53%.

Analyst Ratings Changes

A number of equities analysts have recently commented on NVO shares. Weiss Ratings restated a “hold (c)” rating on shares of Novo Nordisk A/S in a report on Tuesday, October 14th. Sanford C. Bernstein upgraded Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 9th. Wall Street Zen downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Hsbc Global Res upgraded Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Finally, Dbs Bank upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Friday, August 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.