Dorsey Wright & Associates Sells 1,850 Shares of Novo Nordisk A/S (NYSE:NVO)

Dorsey Wright & Associates cut its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 3.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,585 shares of the company’s stock after selling 1,850 shares during the quarter. Novo Nordisk A/S makes up approximately 2.0% of Dorsey Wright & Associates’ portfolio, making the stock its 4th biggest position. Dorsey Wright & Associates’ holdings in Novo Nordisk A/S were worth $7,791,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Folketrygdfondet increased its position in shares of Novo Nordisk A/S by 1.4% during the first quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock worth $1,124,275,000 after buying an additional 124,770 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Novo Nordisk A/S by 10.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after acquiring an additional 823,036 shares in the last quarter. Capital International Investors raised its position in shares of Novo Nordisk A/S by 22.3% in the 4th quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after acquiring an additional 1,297,536 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Novo Nordisk A/S by 1.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock valued at $607,242,000 after purchasing an additional 58,935 shares during the period. Finally, GQG Partners LLC boosted its position in shares of Novo Nordisk A/S by 654.6% during the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after purchasing an additional 3,151,584 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 2.8 %

NVO stock opened at $120.76 on Friday. The stock’s 50 day moving average is $131.97 and its 200-day moving average is $133.00. Novo Nordisk A/S has a twelve month low of $86.96 and a twelve month high of $148.15. The firm has a market capitalization of $541.91 billion, a PE ratio of 41.64, a P/E/G ratio of 1.35 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 (NYSE:NVO) last announced its 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). 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 during the quarter, compared to analysts’ expectations of $9.91 billion. Sell-side analysts expect 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 dividend of $0.5126 per share. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s payout ratio is 24.83%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NVO shares. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 18th. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, September 16th. BMO Capital Markets decreased their price target on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Argus increased their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Novo Nordisk A/S currently has an average rating of “Buy” and an average price target 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.