Procyon Advisors LLC Has $1.28 Million Stock Position in Novo Nordisk A/S $NVO

Key Points

• Procyon Advisors LLC decreased its stake in Novo Nordisk A/S by 76.1%, selling 58,754 shares during the 2nd quarter, leaving them with 18,473 shares valued at $1,275,000.
• Several hedge funds increased their holdings in Novo Nordisk, with Toronto Dominion Bank leading the way with a 494.1% increase in the 4th quarter.
• Analysts have mixed views on Novo Nordisk, with a consensus rating of "Hold" and a price target of $81.00, despite a recent downgrade by HSBC.

Procyon Advisors LLC trimmed its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 76.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,473 shares of the company's stock after selling 58,754 shares during the period. Procyon Advisors LLC's holdings in Novo Nordisk A/S were worth $1,275,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Revolve Wealth Partners LLC boosted its position in Novo Nordisk A/S by 8.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock valued at $214,000 after buying an additional 200 shares during the last quarter. Toronto Dominion Bank boosted its position in Novo Nordisk A/S by 494.1% in the 4th quarter. Toronto Dominion Bank now owns 88,295 shares of the company's stock valued at $7,595,000 after buying an additional 73,432 shares during the last quarter. Waverly Advisors LLC boosted its position in Novo Nordisk A/S by 105.4% in the 4th quarter. Waverly Advisors LLC now owns 13,929 shares of the company's stock valued at $1,198,000 after buying an additional 7,147 shares during the last quarter. Harmony Asset Management LLC boosted its position in Novo Nordisk A/S by 1.6% in the 4th quarter. Harmony Asset Management LLC now owns 61,777 shares of the company's stock valued at $5,314,000 after buying an additional 950 shares during the last quarter. Finally, Pinkerton Retirement Specialists LLC boosted its position in Novo Nordisk A/S by 1.3% in the 4th quarter. Pinkerton Retirement Specialists LLC now owns 25,247 shares of the company's stock valued at $2,172,000 after buying an additional 317 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on NVO shares. Dbs Bank upgraded Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research report on Friday, August 22nd. HSBC lowered Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price target on the stock. in a research report on Thursday, July 31st. Barclays reiterated an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Rothschild Redb upgraded Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Finally, Hsbc Global Res lowered Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of "Hold" and a consensus price target of $81.00.

Novo Nordisk A/S Trading Down 0.6%

NVO stock traded down $0.40 during midday trading on Friday, hitting $61.45. 12,824,513 shares of the company's stock were exchanged, compared to its average volume of 11,969,843. The stock's fifty day moving average price is $57.03 and its 200-day moving average price is $65.62. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $129.48. The company has a market cap of $274.37 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 2.21 and a beta of 0.66. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78.

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

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were paid a $0.4119 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a dividend yield of 240.0%. 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.