Kavar Capital Partners Group LLC Sells 420 Shares of Novo Nordisk A/S (NYSE:NVO)

Kavar Capital Partners Group LLC reduced its position in shares of Novo Nordisk A/S (NYSE:NVO) by 1.3% in the third quarter, Holdings Channel reports. The fund owned 31,753 shares of the company’s stock after selling 420 shares during the quarter. Kavar Capital Partners Group LLC’s holdings in Novo Nordisk A/S were worth $3,781,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVO. GQG Partners LLC boosted its position in shares of Novo Nordisk A/S by 654.6% during the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after acquiring an additional 3,151,584 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Novo Nordisk A/S by 10,608.4% during the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after buying an additional 1,796,635 shares during the period. DSM Capital Partners LLC boosted its stake in Novo Nordisk A/S by 257,816.0% during the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after buying an additional 1,593,303 shares during the period. Acadian Asset Management LLC boosted its stake in Novo Nordisk A/S by 1,300.8% during the first quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock worth $159,703,000 after buying an additional 1,155,313 shares during the period. Finally, Mediolanum International Funds Ltd purchased a new position in Novo Nordisk A/S during the third quarter worth $98,765,000. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Down 0.5 %

NYSE:NVO opened at $113.38 on Friday. Novo Nordisk A/S has a twelve month low of $92.94 and a twelve month high of $148.15. The company has a market cap of $508.80 billion, a price-to-earnings ratio of 39.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.42. The stock has a fifty day simple moving average of $126.61 and a 200-day simple moving average of $131.32. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46.

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

Novo Nordisk A/S Cuts Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have commented on NVO shares. 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. Finally, BMO Capital Markets decreased their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $144.50.

About Novo Nordisk A/S

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.