Focus Financial Network Inc. Sells 866 Shares of Novo Nordisk A/S $NVO

Focus Financial Network Inc. reduced its position in shares of Novo Nordisk A/S (NYSE:NVO) by 13.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,559 shares of the company’s stock after selling 866 shares during the quarter. Focus Financial Network Inc.’s holdings in Novo Nordisk A/S were worth $384,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Hawaiian Bank increased its position in Novo Nordisk A/S by 0.6% during the 1st quarter. First Hawaiian Bank now owns 22,401 shares of the company’s stock valued at $1,556,000 after purchasing an additional 142 shares during the period. Anchor Investment Management LLC increased its position in Novo Nordisk A/S by 1.1% during the 1st quarter. Anchor Investment Management LLC now owns 13,597 shares of the company’s stock valued at $944,000 after purchasing an additional 150 shares during the period. Xponance Inc. increased its position in Novo Nordisk A/S by 5.0% during the 1st quarter. Xponance Inc. now owns 3,314 shares of the company’s stock valued at $230,000 after purchasing an additional 158 shares during the period. Foster Dykema Cabot & Partners LLC increased its position in Novo Nordisk A/S by 3.8% during the 1st quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company’s stock valued at $319,000 after purchasing an additional 166 shares during the period. Finally, 180 Wealth Advisors LLC increased its position in Novo Nordisk A/S by 3.6% during the 1st quarter. 180 Wealth Advisors LLC now owns 5,014 shares of the company’s stock valued at $348,000 after purchasing an additional 173 shares during the period. 11.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on NVO shares. Rothschild & Co Redburn raised shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 16th. BNP Paribas raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research report on Wednesday, August 13th. 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 on the stock in a research report on Wednesday, August 13th. TD Cowen reduced their target price on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, August 19th. Finally, Barclays restated an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $81.00.

Novo Nordisk A/S Stock Down 0.6%

Shares of NVO opened at $61.45 on Friday. The company has a market cap of $274.37 billion, a PE ratio of 16.88, a P/E/G ratio of 2.33 and a beta of 0.66. The business has a fifty day moving average of $56.88 and a 200 day moving average of $65.26. Novo Nordisk A/S has a 52-week low of $45.05 and a 52-week high of $129.48. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. On average, sell-side analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were given a $0.4119 dividend. The ex-dividend date was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 22.53%.

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.