Novo Nordisk A/S (NYSE:NVO) Shares Sold by HFG Advisors Inc.

HFG Advisors Inc. reduced its holdings in Novo Nordisk A/S (NYSE:NVO) by 16.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,660 shares of the company’s stock after selling 540 shares during the quarter. HFG Advisors Inc.’s holdings in Novo Nordisk A/S were worth $380,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NVO. First PREMIER Bank acquired a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at approximately $25,000. CNB Bank purchased a new position in Novo Nordisk A/S in the 4th quarter valued at approximately $26,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Novo Nordisk A/S in the 1st quarter valued at approximately $26,000. Orion Capital Management LLC purchased a new position in Novo Nordisk A/S in the 1st quarter valued at approximately $26,000. Finally, Frank Rimerman Advisors LLC purchased a new position in Novo Nordisk A/S in the 4th quarter valued at approximately $30,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock traded up $5.30 during mid-day trading on Friday, hitting $133.47. 7,503,650 shares of the company were exchanged, compared to its average volume of 4,552,021. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. The business’s 50 day simple moving average is $137.53 and its two-hundred day simple moving average is $129.94. The company has a market capitalization of $598.95 billion, a P/E ratio of 46.02, a PEG ratio of 1.33 and a beta of 0.41. Novo Nordisk A/S has a 12-month low of $86.96 and a 12-month high of $148.15.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.5126 per share. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is 45.52%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NVO. 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. The Goldman Sachs Group began coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective for the company. BMO Capital Markets dropped their price objective on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday, August 5th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $145.17.

Novo Nordisk A/S 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.