Fulton Bank N.A. Sells 949 Shares of Novo Nordisk A/S (NYSE:NVO)

Fulton Bank N.A. lowered its stake in Novo Nordisk A/S (NYSE:NVO) by 34.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,817 shares of the company’s stock after selling 949 shares during the quarter. Fulton Bank N.A.’s holdings in Novo Nordisk A/S were worth $216,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NVO. GQG Partners LLC increased its stake in shares of Novo Nordisk A/S by 654.6% in 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 in the last quarter. DSM Capital Partners LLC increased its stake in shares of Novo Nordisk A/S by 257,816.0% in the 2nd quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after acquiring an additional 1,593,303 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Novo Nordisk A/S by 1,300.8% in the 1st quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock valued at $159,703,000 after acquiring an additional 1,155,313 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Novo Nordisk A/S by 10.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock valued at $1,102,857,000 after purchasing an additional 823,036 shares during the period. Finally, Marshall Wace LLP grew its position in Novo Nordisk A/S by 34,472.1% in the 2nd quarter. Marshall Wace LLP now owns 691,441 shares of the company’s stock valued at $98,696,000 after purchasing an additional 689,441 shares during the period. Institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on NVO. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday, September 16th. BMO Capital Markets reduced their price target on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Price Performance

NVO opened at $117.01 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The company has a market capitalization of $525.09 billion, a price-to-earnings ratio of 40.35, a P/E/G ratio of 1.35 and a beta of 0.42. The firm’s fifty day moving average price is $130.15 and its two-hundred day moving average price is $132.27. Novo Nordisk A/S has a 1 year low of $91.90 and a 1 year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, analysts anticipate 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. Stockholders of record on Friday, August 16th were paid 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 24.83%.

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.