Mathes Company Inc. Trims Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Mathes Company Inc. cut its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 3.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,191 shares of the company’s stock after selling 154 shares during the period. Mathes Company Inc.’s holdings in Novo Nordisk A/S were worth $499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of NVO. Advisor OS LLC raised its holdings in Novo Nordisk A/S by 0.6% in the 2nd quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock valued at $1,994,000 after acquiring an additional 82 shares during the last quarter. Cascade Financial Partners LLC lifted its stake in Novo Nordisk A/S by 2.3% in the second quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock worth $543,000 after acquiring an additional 84 shares during the last quarter. Novare Capital Management LLC increased its holdings in Novo Nordisk A/S by 3.2% in the third quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock valued at $325,000 after buying an additional 85 shares during the last quarter. AA Financial Advisors LLC lifted its stake in Novo Nordisk A/S by 3.2% during the second quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock worth $400,000 after purchasing an additional 86 shares during the last quarter. Finally, Steel Grove Capital Advisors LLC grew its position in shares of Novo Nordisk A/S by 2.3% in the 2nd quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock valued at $541,000 after buying an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NYSE:NVO traded down $0.01 during trading hours on Friday, reaching $111.94. 4,554,729 shares of the company’s stock were exchanged, compared to its average volume of 4,364,513. Novo Nordisk A/S has a 12 month low of $94.73 and a 12 month high of $148.15. The business’s 50-day simple moving average is $124.25 and its two-hundred day simple moving average is $130.85. The company has a market capitalization of $502.33 billion, a P/E ratio of 38.34, a price-to-earnings-growth ratio of 1.48 and a beta of 0.42. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (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 analyst estimates of $9.91 billion. Sell-side analysts expect that Novo Nordisk A/S will post 3.01 EPS for the current fiscal 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 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 dividend payout ratio is currently 24.66%.

Analysts Set New Price Targets

Several brokerages have issued reports on NVO. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday. Cantor Fitzgerald reissued 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 lowered their price objective 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 research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target 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.