Allspring Global Investments Holdings LLC Trims Stake in Novo Nordisk A/S $NVO

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 3.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,552 shares of the company’s stock after selling 3,295 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Novo Nordisk A/S were worth $6,602,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Copeland Capital Management LLC boosted its holdings in shares of Novo Nordisk A/S by 184.8% in the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock worth $27,000 after purchasing an additional 255 shares in the last quarter. North Capital Inc. purchased a new position in shares of Novo Nordisk A/S in the 1st quarter worth about $27,000. Stone House Investment Management LLC purchased a new position in shares of Novo Nordisk A/S in the 1st quarter worth about $30,000. Disciplina Capital Management LLC boosted its holdings in shares of Novo Nordisk A/S by 162.3% in the 1st quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock worth $33,000 after purchasing an additional 297 shares in the last quarter. Finally, Dagco Inc. purchased a new position in shares of Novo Nordisk A/S in the 1st quarter worth about $35,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NVO has been the subject of a number of research reports. TD Cowen cut their price objective on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, August 19th. Berenberg Bank upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Wednesday, September 17th. Rothschild Redb upgraded Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 16th. Zacks Research upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Finally, BNP Paribas Exane upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 target price for the company in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $76.00.

Novo Nordisk A/S Trading Down 3.0%

NVO opened at $54.41 on Monday. The business has a 50 day simple moving average of $56.24 and a two-hundred day simple moving average of $62.69. The firm has a market capitalization of $242.93 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 2.50 and a beta of 0.68. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $118.26.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared 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. 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 presently 22.53%.

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.