Bessemer Group Inc. Trims Holdings in Novo Nordisk A/S $NVO

Bessemer Group Inc. decreased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 22.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 58,986 shares of the company’s stock after selling 16,772 shares during the quarter. Bessemer Group Inc.’s holdings in Novo Nordisk A/S were worth $4,072,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC lifted 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 buying an additional 10,001,898 shares in the last quarter. Folketrygdfondet lifted its position 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 buying an additional 617,974 shares in the last quarter. Goldman Sachs Group Inc. lifted its position 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 buying an additional 576,900 shares in the last quarter. Sustainable Growth Advisers LP lifted its position in Novo Nordisk A/S by 3.8% during the first quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company’s stock worth $384,923,000 after buying an additional 202,443 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Novo Nordisk A/S during the first quarter worth approximately $370,272,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NVO stock opened at $51.36 on Thursday. 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 market capitalization of $229.30 billion, a PE ratio of 14.11, a P/E/G ratio of 2.37 and a beta of 0.68. Novo Nordisk A/S has a 12-month low of $45.05 and a 12-month high of $113.76. The business’s fifty day moving average price is $56.43 and its 200 day moving average price is $62.14.

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, beating the consensus estimate of $0.93 by $0.04. The firm had revenue of $11.69 billion for the quarter, compared to the consensus estimate of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. On average, sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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

Analyst Ratings Changes

A number of brokerages recently commented on NVO. Morgan Stanley downgraded Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and reduced their price objective for the stock from $59.00 to $47.00 in a research report on Monday, September 29th. Rothschild Redb upgraded Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 16th. HSBC set a $70.00 target price on Novo Nordisk A/S in a research report on Wednesday, October 1st. Barclays restated an “equal weight” rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Finally, Berenberg Bank upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $76.00.

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.