Hourglass Capital LLC Sells 360 Shares of Novo Nordisk A/S (NYSE:NVO)

Hourglass Capital LLC decreased its position in Novo Nordisk A/S (NYSE:NVO) by 2.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,480 shares of the company’s stock after selling 360 shares during the quarter. Hourglass Capital LLC’s holdings in Novo Nordisk A/S were worth $2,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. 1620 Investment Advisors Inc. bought a new position in shares of Novo Nordisk A/S during the 2nd quarter valued at approximately $25,000. Gilliland Jeter Wealth Management LLC grew its position in Novo Nordisk A/S by 200.0% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after acquiring an additional 120 shares during the last quarter. First PREMIER Bank purchased a new stake in Novo Nordisk A/S in the first quarter worth $25,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Novo Nordisk A/S during the first quarter worth $26,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Novo Nordisk A/S during the first quarter valued at $26,000. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NYSE:NVO opened at $134.05 on Friday. The firm has a 50 day moving average of $135.03 and a 200 day moving average of $132.42. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $601.55 billion, a price-to-earnings ratio of 45.13, a price-to-earnings-growth ratio of 1.52 and a beta of 0.42. Novo Nordisk A/S has a 52 week low of $86.96 and a 52 week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $9.91 billion. On average, sell-side analysts predict that Novo Nordisk A/S will post 3.11 earnings per share 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. Investors of record on Friday, August 16th were paid a dividend of $0.5126 per share. The ex-dividend date was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is 24.83%.

Wall Street Analysts Forecast Growth

NVO has been the subject of a number of research analyst reports. BMO Capital Markets decreased their price objective on shares of 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. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 19th. The Goldman Sachs Group began coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Monday, August 19th. Finally, Argus increased their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $145.17.

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.