Novo Nordisk A/S $NVO Shares Sold by Private Trust Co. NA

Private Trust Co. NA cut its position in Novo Nordisk A/S (NYSE:NVO) by 20.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,948 shares of the company’s stock after selling 5,489 shares during the quarter. Private Trust Co. NA’s holdings in Novo Nordisk A/S were worth $1,515,000 at the end of the most recent quarter.

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

Novo Nordisk A/S Price Performance

Shares of NVO opened at $54.41 on Friday. 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 stock’s 50 day moving average is $56.24 and its two-hundred day moving average is $62.75. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $118.26. The firm has a market capitalization of $242.93 billion, a PE ratio of 14.95, a P/E/G ratio of 2.58 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results 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 return on equity of 78.64% and a net margin of 35.60%.The business had revenue of $11.69 billion during the quarter, compared to analysts’ expectations of $77.51 billion. Research analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on NVO shares. Rothschild Redb upgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 16th. BNP Paribas Exane upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price target on the stock in a research report on Wednesday, August 13th. TD Cowen decreased their price objective on 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Novo Nordisk A/S in a research note on Tuesday. Finally, Hsbc Global Res upgraded Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $76.00.

Novo Nordisk A/S Company 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.