Novo Nordisk A/S $NVO Shares Sold by Gallagher Capital Advisors LLC

Key Points

• Gallagher Capital Advisors LLC reduced its holdings in Novo Nordisk A/S by 63.8%, owning 6,893 shares after selling 12,171 shares during the second quarter.
• Several analysts upgraded Novo Nordisk A/S ratings recently, with Dbs Bank shifting from a "strong sell" to a "hold" rating and a consensus rating of "Moderate Buy" with an average target price of $76.00.
• Novo Nordisk A/S reported earnings of $0.97 per share for the last quarter, surpassing estimates, and had a revenue of $11.69 billion.

Gallagher Capital Advisors LLC trimmed its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 63.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,893 shares of the company's stock after selling 12,171 shares during the period. Gallagher Capital Advisors LLC's holdings in Novo Nordisk A/S were worth $476,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. First Hawaiian Bank increased its stake in shares of Novo Nordisk A/S by 0.6% during the 1st quarter. First Hawaiian Bank now owns 22,401 shares of the company's stock worth $1,556,000 after purchasing an additional 142 shares in the last quarter. Anchor Investment Management LLC increased its position in Novo Nordisk A/S by 1.1% during the first quarter. Anchor Investment Management LLC now owns 13,597 shares of the company's stock worth $944,000 after buying an additional 150 shares in the last quarter. Xponance Inc. raised its holdings in shares of Novo Nordisk A/S by 5.0% in the first quarter. Xponance Inc. now owns 3,314 shares of the company's stock worth $230,000 after acquiring an additional 158 shares during the last quarter. Foster Dykema Cabot & Partners LLC lifted its position in shares of Novo Nordisk A/S by 3.8% in the first quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company's stock valued at $319,000 after acquiring an additional 166 shares in the last quarter. Finally, Werba Rubin Papier Wealth Management increased its position in Novo Nordisk A/S by 4.1% during the 2nd quarter. Werba Rubin Papier Wealth Management now owns 4,378 shares of the company's stock worth $302,000 after purchasing an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NVO shares. Dbs Bank raised shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research note on Friday, August 22nd. Sanford C. Bernstein upgraded Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a report on Tuesday, September 9th. Rothschild Redb raised Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 16th. Rothschild & Co Redburn raised Novo Nordisk A/S from a "neutral" rating to a "buy" rating in a research report on Tuesday, September 16th. Finally, HSBC set a $70.00 target price on Novo Nordisk A/S in a research report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $76.00.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock opened at $52.95 on Thursday. The stock has a market capitalization of $236.41 billion, a P/E ratio of 14.47, a PEG ratio of 2.49 and a beta of 0.68. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The business's fifty day moving average price is $56.51 and its 200 day moving average price is $62.52. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $115.26.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. The business had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. As a group, research analysts anticipate that Novo Nordisk A/S will post 3.84 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 Tuesday, August 26th. Stockholders of record on Monday, August 18th were paid a $0.4119 dividend. This represents a dividend yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S's dividend payout ratio (DPR) is currently 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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