Mystic Asset Management Inc. Sells 795 Shares of Novo Nordisk A/S (NYSE:NVO)

Mystic Asset Management Inc. cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 5.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,185 shares of the company’s stock after selling 795 shares during the period. Mystic Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $2,025,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aveo Capital Partners LLC bought a new stake in Novo Nordisk A/S in the fourth quarter worth approximately $205,000. 9258 Wealth Management LLC increased its stake in shares of Novo Nordisk A/S by 4.0% in the 4th quarter. 9258 Wealth Management LLC now owns 2,513 shares of the company’s stock valued at $260,000 after acquiring an additional 97 shares in the last quarter. Rollins Financial lifted its position in shares of Novo Nordisk A/S by 10.4% during the 4th quarter. Rollins Financial now owns 3,894 shares of the company’s stock valued at $403,000 after acquiring an additional 368 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Novo Nordisk A/S by 38.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock worth $9,781,000 after acquiring an additional 26,067 shares in the last quarter. Finally, Gryphon Financial Partners LLC acquired a new stake in Novo Nordisk A/S in the fourth quarter worth $237,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $137.00 on Friday. Novo Nordisk A/S has a 52 week low of $86.96 and a 52 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 stock has a 50 day moving average price of $134.03 and a two-hundred day moving average price of $132.94. The firm has a market capitalization of $614.79 billion, a P/E ratio of 47.24, a P/E/G ratio of 1.48 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 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 company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. Equities analysts forecast that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were given 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 currently 24.83%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NVO shares. Argus upped their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. The Goldman Sachs Group began coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target on the stock. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 19th. BMO Capital Markets lowered their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday, September 9th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.