Doliver Advisors LP Trims Stock Position in Novo Nordisk A/S $NVO

Key Points

• Doliver Advisors LP reduced its stake in Novo Nordisk A/S by 36.8% in Q2, now holding 9,912 shares valued at approximately $684,000.
• Institutional investors have shown mixed activity, with Acadian Asset Management dramatically increasing its holdings by 15,919.9%, while some others trimmed their positions.
• Analyst ratings for Novo Nordisk A/S have varied, with Zacks downgrading to "strong sell" while other firms have issued buy ratings, leaving the stock with an average rating of "hold" and a price target of $81.00.

Doliver Advisors LP lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 36.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,912 shares of the company's stock after selling 5,778 shares during the period. Doliver Advisors LP's holdings in Novo Nordisk A/S were worth $684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC raised its holdings in shares of 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. North Star Investment Management Corp. raised its holdings in shares of Novo Nordisk A/S by 18.2% during the first quarter. North Star Investment Management Corp. now owns 20,742 shares of the company's stock worth $1,440,000 after purchasing an additional 3,200 shares during the last quarter. Integrity Alliance LLC. purchased a new position in shares of Novo Nordisk A/S during the first quarter worth $1,522,000. Bank of New York Mellon Corp raised its holdings in shares of Novo Nordisk A/S by 6.0% during the first quarter. Bank of New York Mellon Corp now owns 839,802 shares of the company's stock worth $58,316,000 after purchasing an additional 47,804 shares during the last quarter. Finally, Stanley Laman Group Ltd. purchased a new position in shares of Novo Nordisk A/S during the first quarter worth $390,000. Hedge funds and other institutional investors own 11.54% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Zacks Research cut shares of Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 20th. Sanford C. Bernstein raised shares of Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a report on Tuesday. TD Cowen cut their price objective on shares of 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. UBS Group cut shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday, August 5th. Finally, HSBC cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price objective for the company. in a report on Thursday, July 31st. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has 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 $81.00.

Novo Nordisk A/S Stock Up 1.2%

NVO stock opened at $54.94 on Friday. The stock has a market capitalization of $245.31 billion, a P/E ratio of 15.09, a P/E/G ratio of 2.06 and a beta of 0.66. The firm has a 50-day simple moving average of $57.96 and a 200-day simple moving average of $66.49. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $138.22.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The business had revenue of $11.69 billion during the quarter, compared to analysts' expectations of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. Equities analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

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.

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