SYSTM Wealth Solutions LLC Sells 8,641 Shares of Novo Nordisk A/S (NYSE:NVO)

SYSTM Wealth Solutions LLC trimmed its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 56.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,718 shares of the company’s stock after selling 8,641 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Novo Nordisk A/S were worth $959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in NVO. First PREMIER Bank bought a new position in shares of Novo Nordisk A/S during the first quarter worth about $25,000. 1620 Investment Advisors Inc. bought a new stake in Novo Nordisk A/S in the second quarter worth approximately $25,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in Novo Nordisk A/S in the first quarter worth approximately $26,000. Orion Capital Management LLC bought a new stake in Novo Nordisk A/S in the first quarter worth approximately $26,000. Finally, Gilliland Jeter Wealth Management LLC increased its holdings in Novo Nordisk A/S by 200.0% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after purchasing an additional 120 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NVO shares. The Goldman Sachs Group started coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price for the company. BMO Capital Markets lowered their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Argus raised their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $145.17.

Novo Nordisk A/S Stock Up 0.1 %

Shares of NYSE:NVO opened at $132.09 on Thursday. The stock has a market cap of $592.76 billion, a price-to-earnings ratio of 45.55, a PEG ratio of 1.48 and a beta of 0.42. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a 12-month low of $86.96 and a 12-month high of $148.15. The business’s 50 day moving average is $133.52 and its 200 day moving average is $133.19.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.06). The company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. On average, sell-side analysts forecast that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Novo Nordisk A/S Company 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.