Cullinan Associates Inc. Sells 400 Shares of Novo Nordisk A/S (NYSE:NVO)

Cullinan Associates Inc. lessened its holdings in Novo Nordisk A/S (NYSE:NVO) by 4.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,000 shares of the company’s stock after selling 400 shares during the period. Cullinan Associates Inc.’s holdings in Novo Nordisk A/S were worth $1,055,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Independence Bank of Kentucky lifted its stake in shares of Novo Nordisk A/S by 192.7% during the 3rd quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock worth $1,368,000 after buying an additional 7,565 shares during the last quarter. Fox Hill Wealth Management raised its holdings in Novo Nordisk A/S by 121.3% in the 1st quarter. Fox Hill Wealth Management now owns 28,320 shares of the company’s stock valued at $3,636,000 after acquiring an additional 15,525 shares during the period. Cetera Investment Advisers lifted its position in Novo Nordisk A/S by 453.3% during the first quarter. Cetera Investment Advisers now owns 265,538 shares of the company’s stock worth $34,095,000 after acquiring an additional 217,545 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc bought a new stake in shares of Novo Nordisk A/S during the second quarter worth approximately $1,624,000. Finally, Azzad Asset Management Inc. ADV grew its position in shares of Novo Nordisk A/S by 55.9% in the third quarter. Azzad Asset Management Inc. ADV now owns 41,107 shares of the company’s stock valued at $4,895,000 after purchasing an additional 14,731 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NVO. 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, October 10th. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, BMO Capital Markets dropped their price objective on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research note 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. According to data from MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Stock Performance

NVO traded down $0.03 during trading hours on Friday, hitting $113.89. The stock had a trading volume of 515,959 shares, compared to its average volume of 4,268,357. Novo Nordisk A/S has a 1 year low of $92.94 and a 1 year high of $148.15. The company’s fifty day simple moving average is $127.52 and its 200 day simple moving average is $131.50. The stock has a market cap of $511.08 billion, a PE ratio of 39.02, a price-to-earnings-growth ratio of 1.52 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 posted 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 during the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. Equities analysts anticipate that Novo Nordisk A/S will post 3.01 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

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

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.