Ethic Inc. Has $6.31 Million Holdings in Novo Nordisk A/S $NVO

Key Points

• Ethic Inc. reduced its holdings in Novo Nordisk A/S by 44.2%, owning 92,144 shares worth approximately $6.31 million after selling 72,989 shares in the second quarter.
• Institutional investors like Kingstone Capital Partners Texas LLC significantly increased their positions, with Kingstone now holding over 10 million shares worth $690 million.
• Novo Nordisk A/S reported earnings of $0.97 EPS, exceeding expectations, with quarterly revenue of $11.69 billion compared to estimates of $77.51 billion.

Ethic Inc. lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 44.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 92,144 shares of the company's stock after selling 72,989 shares during the quarter. Ethic Inc.'s holdings in Novo Nordisk A/S were worth $6,313,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Kingstone Capital Partners Texas LLC increased 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 during the last quarter. Folketrygdfondet boosted its holdings in shares of 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 acquiring an additional 617,974 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of 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 acquiring an additional 576,900 shares during the period. Sustainable Growth Advisers LP boosted its holdings in shares of 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 acquiring an additional 202,443 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Novo Nordisk A/S during the first quarter worth approximately $370,272,000. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Trading Down 2.6%

Shares of NYSE:NVO opened at $53.37 on Thursday. The company has a market capitalization of $238.29 billion, a P/E ratio of 14.66, a P/E/G ratio of 2.49 and a beta of 0.68. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $116.43. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The business's 50 day simple moving average is $56.51 and its 200 day simple moving average is $62.52.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The business 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, research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Analysts Set New Price Targets

NVO has been the subject of a number of research analyst reports. Rothschild & Co Redburn upgraded Novo Nordisk A/S from a "neutral" rating to a "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. Morgan Stanley cut 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 report on Monday, September 29th. TD Cowen reduced 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. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $55.00 price target (up from $50.00) on shares of Novo Nordisk A/S in a research note on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average 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.

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