Hobbs Group Advisors LLC Sells 4,766 Shares of Novo Nordisk A/S $NVO

Key Points

• Hobbs Group Advisors LLC reduced its holdings in Novo Nordisk A/S by 50% in the first quarter, selling 4,766 shares, leaving them with 4,760 shares valued at approximately $331,000.
• Several brokerages have recently adjusted their ratings and price targets for Novo Nordisk A/S, with HSBC downgrading it to a "hold" rating and setting a target price of $57.00, while the average consensus target price is $81.00.
• Novo Nordisk A/S reported earnings of $0.97 per share for the last quarter, exceeding analysts' expectations, and announced a semi-annual dividend of $0.4119 per share with an ex-dividend date of August 18th.

Hobbs Group Advisors LLC lessened its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 50.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,760 shares of the company's stock after selling 4,766 shares during the period. Hobbs Group Advisors LLC's holdings in Novo Nordisk A/S were worth $331,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. grew its position in shares of Novo Nordisk A/S by 9.4% in the 1st quarter. Ameriprise Financial Inc. now owns 1,442,295 shares of the company's stock valued at $100,172,000 after acquiring an additional 123,579 shares during the period. CW Advisors LLC grew its position in shares of Novo Nordisk A/S by 259.1% in the 1st quarter. CW Advisors LLC now owns 64,914 shares of the company's stock valued at $4,633,000 after acquiring an additional 46,835 shares during the period. Martin Investment Management LLC boosted its holdings in shares of Novo Nordisk A/S by 2.4% during the 1st quarter. Martin Investment Management LLC now owns 288,983 shares of the company's stock worth $20,067,000 after buying an additional 6,820 shares during the period. Flow Traders U.S. LLC bought a new stake in shares of Novo Nordisk A/S during the 1st quarter worth about $1,629,000. Finally, Osterweis Capital Management Inc. boosted its holdings in shares of Novo Nordisk A/S by 0.5% during the 1st quarter. Osterweis Capital Management Inc. now owns 228,690 shares of the company's stock worth $15,880,000 after buying an additional 1,071 shares during the period. Institutional investors own 11.54% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on NVO. HSBC downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 target price for the company. in a report on Thursday, July 31st. BNP Paribas Exane raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 target price for the company in a report on Wednesday, August 13th. Barclays reaffirmed an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Hsbc Global Res downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Finally, TD Cowen reduced their target price on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Novo Nordisk A/S has an average rating of "Hold" and a consensus target price of $81.00.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock opened at $54.2980 on Thursday. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $139.74. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The company has a 50-day simple moving average of $63.54 and a two-hundred day simple moving average of $69.81. The stock has a market capitalization of $242.44 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 1.88 and a beta of 0.63.

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

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th will be given a $0.4119 dividend. The ex-dividend date is Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S's payout ratio is presently 22.53%.

Novo Nordisk A/S Company 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.

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