Novo Nordisk A/S (NYSE:NVO) Shares Sold by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC trimmed its holdings in Novo Nordisk A/S (NYSE:NVO) by 11.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,695 shares of the company’s stock after selling 500 shares during the period. Chesley Taft & Associates LLC’s holdings in Novo Nordisk A/S were worth $440,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Waterloo Capital L.P. purchased a new position in Novo Nordisk A/S in the 4th quarter worth approximately $217,000. MGO One Seven LLC lifted its position in Novo Nordisk A/S by 3.5% during the fourth quarter. MGO One Seven LLC now owns 17,630 shares of the company’s stock worth $1,824,000 after buying an additional 600 shares in the last quarter. Ethic Inc. boosted its stake in Novo Nordisk A/S by 4.8% during the fourth quarter. Ethic Inc. now owns 166,373 shares of the company’s stock worth $17,211,000 after buying an additional 7,556 shares during the last quarter. Garner Asset Management Corp purchased a new stake in Novo Nordisk A/S in the 4th quarter valued at $163,000. Finally, ADAR1 Capital Management LLC acquired a new stake in shares of Novo Nordisk A/S in the 4th quarter worth $657,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $117.20 on Wednesday. Novo Nordisk A/S has a fifty-two week low of $90.50 and a fifty-two week high of $148.15. 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 company has a 50 day moving average price of $130.39 and a 200 day moving average price of $132.35. The stock has a market capitalization of $525.92 billion, a P/E ratio of 40.41, a PEG ratio of 1.35 and a beta of 0.42.

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

Novo Nordisk A/S Cuts Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NVO shares. 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 for the company in a report on Thursday, August 8th. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday, September 16th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Moderate 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.