Novo Nordisk A/S (NYSE:NVO) Shares Sold by Cynosure Group LLC

Key Points

• Cynosure Group LLC has reduced its stake in Novo Nordisk A/S by 63.3%, selling 16,906 shares during the first quarter and now holding 9,804 shares valued at approximately $681,000.
• Several institutional investors have recently increased their stakes in Novo Nordisk, including Strategic Investment Solutions, which boosted its stake by 2,727.3% in the last quarter.
• A number of analysts have downgraded Novo Nordisk's stock ratings, with BMO Capital Markets lowering its price target from $105.00 to $64.00, indicating a shift in investor outlook amidst changing financial performance.

Cynosure Group LLC decreased its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 63.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,804 shares of the company's stock after selling 16,906 shares during the period. Cynosure Group LLC's holdings in Novo Nordisk A/S were worth $681,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Revolve Wealth Partners LLC grew its stake in Novo Nordisk A/S by 8.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock worth $214,000 after purchasing an additional 200 shares in the last quarter. Bank of Nova Scotia boosted its stake in shares of Novo Nordisk A/S by 62.5% in the 4th quarter. Bank of Nova Scotia now owns 12,650 shares of the company's stock valued at $1,092,000 after buying an additional 4,866 shares during the period. CenterBook Partners LP grew its position in shares of Novo Nordisk A/S by 45.9% during the fourth quarter. CenterBook Partners LP now owns 5,557 shares of the company's stock worth $478,000 after buying an additional 1,749 shares in the last quarter. Phoenix Financial Ltd. increased its stake in shares of Novo Nordisk A/S by 37.5% during the fourth quarter. Phoenix Financial Ltd. now owns 19,140 shares of the company's stock worth $1,647,000 after buying an additional 5,220 shares during the period. Finally, Kennedy Capital Management LLC purchased a new stake in shares of Novo Nordisk A/S during the fourth quarter worth approximately $2,023,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NVO. BNP Paribas started coverage on Novo Nordisk A/S in a report on Tuesday, April 15th. They issued an "underperform" rating on the stock. BMO Capital Markets reiterated a "market perform" rating and issued a $64.00 price target (down from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Guggenheim cut shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Wall Street Zen cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Barclays reiterated an "equal weight" rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $93.67.

Novo Nordisk A/S Price Performance

NVO stock traded up $2.30 during midday trading on Friday, hitting $51.06. 23,312,357 shares of the stock were exchanged, compared to its average volume of 23,928,642. The stock's 50-day moving average price is $67.14 and its 200-day moving average price is $71.54. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. The stock has a market cap of $227.98 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 1.54 and a beta of 0.63. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $139.74.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share 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 firm had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. Research analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be paid a dividend of $0.4119 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S's dividend payout ratio is presently 45.05%.

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.