Novo Nordisk A/S (NYSE:NVO) Shares Sold by Fox Hill Wealth Management

Key Points

• Fox Hill Wealth Management significantly reduced its holdings in Novo Nordisk A/S by 45.5%, selling 5,325 shares and ending the first quarter with 6,385 shares worth approximately $443,000.
• Several hedge funds have been active in modifying their positions in Novo Nordisk, with one firm increasing its stake by 2,727.3% in the previous quarter.
• Analysts have mixed opinions on Novo Nordisk, with most holding a "Hold" rating and a consensus target price of $93.67, reflecting cautious sentiment towards the stock.

Fox Hill Wealth Management decreased its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 45.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,385 shares of the company's stock after selling 5,325 shares during the quarter. Fox Hill Wealth Management's holdings in Novo Nordisk A/S were worth $443,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Revolve Wealth Partners LLC boosted its holdings in Novo Nordisk A/S by 8.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock worth $214,000 after purchasing an additional 200 shares during the last quarter. Advisors Capital Management LLC increased its holdings in Novo Nordisk A/S by 7.9% in the 4th quarter. Advisors Capital Management LLC now owns 8,912 shares of the company's stock valued at $767,000 after acquiring an additional 649 shares during the last quarter. Mariner LLC increased its holdings in Novo Nordisk A/S by 4.8% in the 4th quarter. Mariner LLC now owns 363,313 shares of the company's stock valued at $31,251,000 after acquiring an additional 16,634 shares during the last quarter. Lafayette Investments Inc. increased its holdings in shares of Novo Nordisk A/S by 48.7% in the 4th quarter. Lafayette Investments Inc. now owns 5,946 shares of the company's stock worth $511,000 after buying an additional 1,946 shares during the last quarter. Finally, Kane Investment Management Inc. purchased a new position in shares of Novo Nordisk A/S during the 4th quarter worth about $781,000. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO traded up $1.12 on Wednesday, reaching $50.90. 19,399,726 shares of the company were exchanged, compared to its average volume of 25,473,044. The firm has a market cap of $227.27 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 1.71 and a beta of 0.63. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $139.74. The company has a 50-day moving average of $65.84 and a 200-day moving average of $70.91. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. The firm had revenue of $11.69 billion for the quarter, compared to analysts' expectations of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. Equities analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th will be given a dividend of $0.4119 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S's dividend payout ratio (DPR) is presently 45.05%.

Wall Street Analyst Weigh In

Several research firms have issued reports on NVO. HSBC cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price objective for the company. in a research report on Thursday, July 31st. BMO Capital Markets reissued a "market perform" rating and set a $64.00 target price (down previously from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Barclays reissued an "equal weight" rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 price target on the stock in a research note on Wednesday. Finally, Wall Street Zen downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $83.75.

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.