Novo Nordisk A/S $NVO Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC decreased its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 53.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 9,605 shares of the company’s stock after selling 11,071 shares during the period. International Assets Investment Management LLC’s holdings in Novo Nordisk A/S were worth $663,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC lifted its holdings in Novo Nordisk A/S by 301,443.6% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock worth $690,560,000 after buying an additional 10,001,898 shares in the last quarter. Folketrygdfondet raised its stake in Novo Nordisk A/S by 6.9% during the first quarter. Folketrygdfondet now owns 9,521,912 shares of the company’s stock worth $661,202,000 after acquiring an additional 617,974 shares during the period. Goldman Sachs Group Inc. raised its stake in Novo Nordisk A/S by 11.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company’s stock worth $395,291,000 after acquiring an additional 576,900 shares during the period. Sustainable Growth Advisers LP grew its position in Novo Nordisk A/S by 3.8% in the 1st quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company’s stock worth $384,923,000 after purchasing an additional 202,443 shares during the last quarter. Finally, Nuveen LLC bought a new position in Novo Nordisk A/S in the 1st quarter worth about $370,272,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NYSE NVO opened at $55.78 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The company has a fifty day simple moving average of $56.36 and a 200 day simple moving average of $62.64. The company has a market cap of $249.04 billion, a P/E ratio of 15.32, a P/E/G ratio of 2.50 and a beta of 0.68. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $117.96.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. The business had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. On average, sell-side analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were issued a $0.4119 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio is 22.53%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Novo Nordisk A/S in a research note on Tuesday, October 14th. BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price objective on the stock in a research note on Wednesday, August 13th. HSBC set a $70.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, October 1st. Wall Street Zen lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Berenberg Bank upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $76.00.

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.