Capricorn Fund Managers Ltd Sells 3,712 Shares of Novo Nordisk A/S (NYSE:NVO)

Capricorn Fund Managers Ltd decreased its holdings in Novo Nordisk A/S (NYSE:NVO) by 35.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,758 shares of the company’s stock after selling 3,712 shares during the quarter. Capricorn Fund Managers Ltd’s holdings in Novo Nordisk A/S were worth $805,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. First PREMIER Bank acquired a new position in Novo Nordisk A/S during the 1st quarter worth about $25,000. 1620 Investment Advisors Inc. acquired a new position in shares of Novo Nordisk A/S in the second quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL bought a new stake in Novo Nordisk A/S in the second quarter valued at approximately $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Novo Nordisk A/S during the 1st quarter valued at approximately $26,000. Finally, Orion Capital Management LLC bought a new position in Novo Nordisk A/S during the 1st quarter worth approximately $26,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NVO has been the topic of a number of analyst reports. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. BMO Capital Markets decreased their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $120.04 on Monday. The business has a 50-day simple moving average of $129.39 and a 200 day simple moving average of $132.04. Novo Nordisk A/S has a one year low of $92.94 and a one year high of $148.15. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The firm has a market capitalization of $538.68 billion, a price-to-earnings ratio of 41.39, a PEG ratio of 1.53 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The firm had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. On average, research analysts anticipate that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were given a dividend of $0.5126 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s payout ratio is 24.83%.

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.