Novo Nordisk A/S (NYSE:NVO) Stock Holdings Decreased by Shikiar Asset Management Inc.

Shikiar Asset Management Inc. trimmed its stake in Novo Nordisk A/S (NYSE:NVO) by 13.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 111,244 shares of the company’s stock after selling 16,791 shares during the period. Novo Nordisk A/S makes up about 3.5% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 6th biggest position. Shikiar Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $13,246,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. First PREMIER Bank purchased a new stake in shares of Novo Nordisk A/S during the first quarter valued at about $25,000. 1620 Investment Advisors Inc. acquired a new position in shares of Novo Nordisk A/S in the second quarter valued at about $25,000. Strategic Investment Solutions Inc. IL purchased a new position in Novo Nordisk A/S during the 2nd quarter worth approximately $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Novo Nordisk A/S during the first quarter valued at $26,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Novo Nordisk A/S in the first quarter worth about $26,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

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

Novo Nordisk A/S Trading Up 2.1 %

Shares of Novo Nordisk A/S stock opened at $120.04 on Friday. Novo Nordisk A/S has a twelve month low of $92.94 and a twelve month high of $148.15. The firm’s 50-day moving average price is $129.39 and its 200 day moving average price is $132.02. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $538.68 billion, a PE ratio of 41.11, a P/E/G ratio of 1.53 and a beta of 0.42.

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

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were issued a dividend of $0.5126 per share. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s payout ratio is 24.66%.

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.