Novo Nordisk A/S (NYSE:NVO) Shares Sold by JLB & Associates Inc.

JLB & Associates Inc. reduced its stake in Novo Nordisk A/S (NYSE:NVO) by 3.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 213,149 shares of the company’s stock after selling 7,334 shares during the period. Novo Nordisk A/S comprises approximately 3.3% of JLB & Associates Inc.’s investment portfolio, making the stock its 6th largest position. JLB & Associates Inc.’s holdings in Novo Nordisk A/S were worth $25,380,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. First PREMIER Bank bought a new position in Novo Nordisk A/S in the first quarter valued at about $25,000. 1620 Investment Advisors Inc. bought a new stake in shares of Novo Nordisk A/S in the 2nd quarter valued at $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Novo Nordisk A/S in the 2nd quarter worth about $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Novo Nordisk A/S in the first quarter valued at approximately $26,000. Finally, Orion Capital Management LLC bought a new position in Novo Nordisk A/S during the first quarter worth $26,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Trading Down 1.3 %

NYSE NVO opened at $116.46 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $522.62 billion, a P/E ratio of 40.16, a PEG ratio of 1.35 and a beta of 0.42. The business has a fifty day simple moving average of $131.08 and a 200 day simple moving average of $132.66. Novo Nordisk A/S has a 12 month low of $86.96 and a 12 month high of $148.15.

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

Novo Nordisk A/S Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NVO. BMO Capital Markets dropped their price objective on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research note on Monday, September 16th. Argus lifted their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $145.17.

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.