Novo Nordisk A/S (NYSE:NVO) Shares Sold by Beese Fulmer Investment Management Inc.

Beese Fulmer Investment Management Inc. trimmed its holdings in Novo Nordisk A/S (NYSE:NVO) by 0.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 163,608 shares of the company’s stock after selling 210 shares during the quarter. Novo Nordisk A/S makes up 1.7% of Beese Fulmer Investment Management Inc.’s holdings, making the stock its 17th biggest holding. Beese Fulmer Investment Management Inc.’s holdings in Novo Nordisk A/S were worth $19,481,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. 1620 Investment Advisors Inc. acquired a new position in Novo Nordisk A/S during the second quarter worth $25,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Novo Nordisk A/S during the 2nd quarter valued at about $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Novo Nordisk A/S during the 1st quarter valued at about $26,000. Orion Capital Management LLC acquired a new stake in Novo Nordisk A/S during the first quarter worth about $26,000. Finally, Gilliland Jeter Wealth Management LLC raised its stake in Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after purchasing an additional 120 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. BMO Capital Markets lowered their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $144.50.

Novo Nordisk A/S Stock Down 0.7 %

Novo Nordisk A/S stock opened at $115.70 on Thursday. 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 moving average price of $127.52 and a 200 day moving average price of $131.50. Novo Nordisk A/S has a fifty-two week low of $92.94 and a fifty-two week high of $148.15. The company has a market capitalization of $519.21 billion, a PE ratio of 39.62, a price-to-earnings-growth ratio of 1.54 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share 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 firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. Research analysts expect that Novo Nordisk A/S will post 3.01 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were issued 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 24.66%.

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.