Central Pacific Bank Trust Division Cuts Holdings in Novo Nordisk A/S (NYSE:NVO)

Central Pacific Bank Trust Division cut its stake in Novo Nordisk A/S (NYSE:NVO) by 51.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,172 shares of the company’s stock after selling 6,619 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Novo Nordisk A/S were worth $735,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NVO. Bank of New Hampshire grew its stake in Novo Nordisk A/S by 1,356.8% in the first quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock worth $1,702,000 after purchasing an additional 12,347 shares in the last quarter. Cim LLC bought a new stake in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $23,547,000. Burford Brothers Inc. bought a new stake in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $1,045,000. Mark Asset Management LP bought a new stake in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $1,035,000. Finally, Fox Hill Wealth Management raised its holdings in Novo Nordisk A/S by 121.3% during the first quarter. Fox Hill Wealth Management now owns 28,320 shares of the company’s stock worth $3,636,000 after purchasing an additional 15,525 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Down 1.2 %

NYSE NVO opened at $115.11 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The firm has a 50-day simple moving average of $130.83 and a 200 day simple moving average of $132.54. Novo Nordisk A/S has a twelve month low of $87.02 and a twelve month high of $148.15. The stock has a market cap of $516.56 billion, a PE ratio of 39.69, a PEG ratio of 1.35 and a beta of 0.42.

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

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed 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. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s payout ratio is 24.83%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NVO. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday, September 16th. Argus upped their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, BMO Capital Markets dropped their price target on 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. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $145.17.

About Novo Nordisk A/S

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.