OVERSEA CHINESE BANKING Corp Ltd Trims Stock Position in Novo Nordisk A/S $NVO

OVERSEA CHINESE BANKING Corp Ltd lowered its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 40.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 17,531 shares of the company’s stock after selling 11,949 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Novo Nordisk A/S were worth $1,192,000 as of its most recent filing with the SEC.

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

Novo Nordisk A/S Price Performance

NYSE:NVO opened at $52.92 on Tuesday. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $113.76. The stock has a 50 day moving average of $56.55 and a two-hundred day moving average of $62.29. 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 firm has a market cap of $236.27 billion, a P/E ratio of 14.54, a price-to-earnings-growth ratio of 2.41 and a beta of 0.68.

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

Novo Nordisk A/S Cuts Dividend

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

Analyst Ratings Changes

A number of research firms have weighed in on NVO. Sanford C. Bernstein upgraded Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 9th. Rothschild Redb upgraded Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 16th. Dbs Bank upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Friday, August 22nd. TD Cowen cut their price target on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, August 19th. Finally, Barclays restated an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.