Novo Nordisk A/S (NYSE:NVO) Shares Sold by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE reduced its position in shares of Novo Nordisk A/S (NYSE:NVO) by 3.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,120 shares of the company’s stock after selling 3,207 shares during the quarter. Novo Nordisk A/S accounts for approximately 1.8% of Smithbridge Asset Management Inc. DE’s investment portfolio, making the stock its 14th biggest holding. Smithbridge Asset Management Inc. DE’s holdings in Novo Nordisk A/S were worth $10,612,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Independence Bank of Kentucky increased its stake in Novo Nordisk A/S by 192.7% during the third quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock worth $1,368,000 after acquiring an additional 7,565 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Novo Nordisk A/S by 453.3% in the 1st quarter. Cetera Investment Advisers now owns 265,538 shares of the company’s stock valued at $34,095,000 after purchasing an additional 217,545 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc acquired a new stake in Novo Nordisk A/S in the second quarter valued at $1,624,000. Azzad Asset Management Inc. ADV boosted its holdings in Novo Nordisk A/S by 55.9% in the third quarter. Azzad Asset Management Inc. ADV now owns 41,107 shares of the company’s stock valued at $4,895,000 after purchasing an additional 14,731 shares in the last quarter. Finally, Arlington Partners LLC boosted its holdings in shares of Novo Nordisk A/S by 25.3% in the 3rd quarter. Arlington Partners LLC now owns 29,412 shares of the company’s stock valued at $3,502,000 after buying an additional 5,935 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. BMO Capital Markets cut their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Thursday, October 10th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average target price of $144.50.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO opened at $112.07 on Monday. The stock has a market capitalization of $502.92 billion, a P/E ratio of 39.10, a P/E/G ratio of 1.52 and a beta of 0.42. Novo Nordisk A/S has a 52-week low of $94.73 and a 52-week high of $148.15. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm’s 50-day moving average price is $126.61 and its two-hundred day moving average price is $131.37.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The company had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. As a group, sell-side analysts forecast that Novo Nordisk A/S will post 3.01 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were issued a dividend of $0.5126 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio is currently 24.83%.

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.