Novo Nordisk A/S $NVO Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. reduced its position in shares of Novo Nordisk A/S (NYSE:NVO) by 36.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,006,406 shares of the company’s stock after selling 588,138 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Novo Nordisk A/S were worth $69,462,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NVO. Kingstone Capital Partners Texas LLC increased its position in Novo Nordisk A/S by 301,443.6% during the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock worth $690,560,000 after purchasing an additional 10,001,898 shares during the last quarter. Nuveen LLC acquired a new stake in Novo Nordisk A/S during the first quarter worth about $370,272,000. Amundi increased its position in Novo Nordisk A/S by 49.1% during the first quarter. Amundi now owns 4,938,507 shares of the company’s stock worth $331,576,000 after purchasing an additional 1,627,051 shares during the last quarter. Acadian Asset Management LLC increased its position in Novo Nordisk A/S by 15,919.9% during the first quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock worth $72,523,000 after purchasing an additional 1,038,137 shares during the last quarter. Finally, DAVENPORT & Co LLC increased its position in Novo Nordisk A/S by 61.1% during the first quarter. DAVENPORT & Co LLC now owns 1,695,522 shares of the company’s stock worth $117,682,000 after purchasing an additional 642,810 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Trading Down 0.7%

NYSE NVO opened at $58.77 on Friday. The firm has a 50 day simple moving average of $55.16 and a 200-day simple moving average of $63.98. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $120.56. The firm has a market cap of $262.42 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 2.27 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, beating the consensus estimate of $0.93 by $0.04. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The business had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. Equities research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NVO shares. UBS Group cut shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 5th. TD Cowen dropped their price target on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, August 19th. HSBC set a $70.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday. BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price target for the company in a research report on Wednesday, August 13th. Finally, Barclays reiterated an “equal weight” rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $77.50.

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.