Novo Nordisk A/S $NVO Shares Sold by Foundation Resource Management Inc.

by · The Cerbat Gem

Foundation Resource Management Inc. lowered its holdings in Novo Nordisk A/S (NYSE:NVO – Free Report) by 10.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 159,173 shares of the company’s stock after selling 18,665 shares during the period. Foundation Resource Management Inc.’s holdings in Novo Nordisk A/S were worth $6,034,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new stake in Novo Nordisk A/S during the 1st quarter worth approximately $26,000. Continuum Advisory LLC purchased a new position in Novo Nordisk A/S in the 2nd quarter valued at approximately $38,000. Markowski Investments purchased a new position in Novo Nordisk A/S in the 2nd quarter valued at approximately $43,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of Novo Nordisk A/S in the first quarter worth $45,000. Finally, Signature Equity Partners LLC grew its stake in shares of Novo Nordisk A/S by 491.0% in the first quarter. Signature Equity Partners LLC now owns 1,572 shares of the company’s stock worth $58,000 after acquiring an additional 1,306 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NVO shares. Jefferies Financial Group reaffirmed a “neutral” rating on shares of Novo Nordisk A/S in a research report on Monday, September 21st. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Novo Nordisk A/S in a report on Tuesday, September 29th. DZ Bank reiterated a “neutral” rating on shares of Novo Nordisk A/S in a report on Thursday, August 6th. Barclays reissued a “neutral” rating on shares of Novo Nordisk A/S in a research note on Monday, September 7th. Finally, Zacks Research upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Five analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Hold” and a consensus target price of $59.44.

Read Our Latest Stock Analysis on Novo Nordisk A/S

Novo Nordisk A/S Stock Down 1.2%

NYSE:NVO traded down $0.45 during mid-day trading on Monday, hitting $38.38. The stock had a trading volume of 7,443,598 shares, compared to its average volume of 16,773,137. The stock has a 50-day simple moving average of $42.70 and a two-hundred day simple moving average of $43.96. The company has a market capitalization of $171.38 billion, a PE ratio of 9.38, a PEG ratio of 1.32 and a beta of 0.76. Novo Nordisk A/S has a twelve month low of $35.12 and a twelve month high of $64.16. The company has a current ratio of 0.87, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55.

Novo Nordisk A/S (NYSE:NVO – Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $0.94 earnings per share (EPS) for the quarter. Novo Nordisk A/S had a net margin of 35.36% and a return on equity of 58.61%. The company had revenue of $11.98 billion during the quarter. On average, equities research analysts anticipate that Novo Nordisk A/S will post 3.42 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, August 25th. Stockholders of record on Monday, August 17th were issued a $0.5786 dividend. This represents a dividend yield of 258.0%. The ex-dividend date was Monday, August 17th. This is a negative change from Novo Nordisk A/S’s previous dividend of $1.2751. Novo Nordisk A/S’s dividend payout ratio (DPR) is 20.05%.

Novo Nordisk A/S Profile

(Free Report)

Novo Nordisk A/S is a Danish pharmaceutical company headquartered in Bagsværd, Denmark. The company focuses on developing and manufacturing medicines and delivery systems for chronic diseases, with a primary emphasis on diabetes and obesity care.

Novo Nordisk offers a broad portfolio of insulin products, as well as glucagon-like peptide-1 (GLP-1) medicines used in diabetes management and weight treatment. Its well-known products include Ozempic and Rybelsus for type 2 diabetes, Wegovy for chronic weight management, and several modern and human insulin products.

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