Smithbridge Asset Management Inc. DE cut its holdings in shares of Novo Nordisk A/S (NYSE:NVO – Get Rating) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 53,589 shares of the company's stock after selling 331 shares during the quarter. Novo Nordisk A/S comprises approximately 2.3% of Smithbridge Asset Management Inc. DE's portfolio, making the stock its 9th biggest holding. Smithbridge Asset Management Inc. DE's holdings in Novo Nordisk A/S were worth $5,971,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. purchased a new position in Novo Nordisk A/S during the first quarter worth about $26,000. Worth Asset Management LLC purchased a new position in shares of Novo Nordisk A/S in the 1st quarter worth about $32,000. Joseph P. Lucia & Associates LLC purchased a new position in shares of Novo Nordisk A/S in the 1st quarter worth about $34,000. Tcwp LLC purchased a new position in shares of Novo Nordisk A/S in the 1st quarter worth about $49,000. Finally, Atticus Wealth Management LLC raised its holdings in shares of Novo Nordisk A/S by 729.6% in the 2nd quarter. Atticus Wealth Management LLC now owns 448 shares of the company's stock worth $50,000 after purchasing an additional 394 shares during the period. 6.62% of the stock is currently owned by hedge funds and other institutional investors.
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Analyst Ratings Changes
A number of research firms have recently commented on NVO. StockNews.com began coverage on Novo Nordisk A/S in a report on Wednesday, October 12th. They issued a "strong-buy" rating on the stock. Morgan Stanley upgraded Novo Nordisk A/S from an "equal weight" rating to an "overweight" rating in a report on Friday, July 15th. Exane BNP Paribas upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a 750.00 price objective on the stock in a report on Monday, June 27th. BNP Paribas upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $750.00 target price for the company in a research note on Monday, June 27th. Finally, UBS Group lowered Novo Nordisk A/S from a "neutral" rating to a "sell" rating in a research note on Tuesday, June 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $678.86.
Novo Nordisk A/S Stock Up 0.2 %
NYSE NVO traded up $0.16 during mid-day trading on Friday, reaching $104.22. 1,856,028 shares of the company's stock traded hands, compared to its average volume of 1,125,650. Novo Nordisk A/S has a 1-year low of $91.51 and a 1-year high of $122.16. The company has a fifty day simple moving average of $104.03 and a 200-day simple moving average of $108.47. The company has a current ratio of 0.94, a quick ratio of 0.74 and a debt-to-equity ratio of 0.32. The company has a market cap of $235.85 billion, a price-to-earnings ratio of 31.11, a P/E/G ratio of 1.73 and a beta of 0.49.
Novo Nordisk A/S (NYSE:NVO – Get Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.84 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.03). Novo Nordisk A/S had a net margin of 32.14% and a return on equity of 72.10%. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.86 billion. As a group, equities research analysts expect that Novo Nordisk A/S will post 3.27 EPS for the current year.
Novo Nordisk A/S Cuts Dividend
The company also recently announced a semi-annual dividend, which was paid on Tuesday, August 23rd. Stockholders of record on Monday, August 15th were given a $0.5836 dividend. The ex-dividend date was Friday, August 12th. This represents a dividend yield of 1.1%. Novo Nordisk A/S's payout ratio is 24.18%.
Novo Nordisk A/S Company Profile
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Novo Nordisk A/S, a healthcare company, engages in the research, development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes and Obesity care, and Biopharm. The Diabetes and Obesity care segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral antidiabetic products, obesity, and other chronic diseases.
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