Novo Nordisk A/S $NVO Shares Sold by Freestone Capital Holdings LLC

Key Points

• Freestone Capital Holdings LLC has decreased its stake in Novo Nordisk A/S by 32%, selling 10,471 shares during the first quarter, resulting in a total holding of 22,249 shares valued at $1.545 million.
• Analysts' ratings for Novo Nordisk A/S have shifted, with multiple brokerages lowering their ratings, leading to a current consensus rating of "Hold" and a price target of $83.75.
• Novo Nordisk A/S reported an earnings per share (EPS) of $0.97, surpassing expectations, and also announced a semi-annual dividend of $0.4119 per share.

Freestone Capital Holdings LLC reduced its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 32.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,249 shares of the company's stock after selling 10,471 shares during the quarter. Freestone Capital Holdings LLC's holdings in Novo Nordisk A/S were worth $1,545,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Corient IA LLC purchased a new stake in Novo Nordisk A/S in the 1st quarter valued at $583,000. Northstar Asset Management Inc. grew its holdings in shares of Novo Nordisk A/S by 3.9% during the 1st quarter. Northstar Asset Management Inc. now owns 148,376 shares of the company's stock worth $10,303,000 after purchasing an additional 5,619 shares during the period. Knuff & Co LLC grew its holdings in shares of Novo Nordisk A/S by 456.4% during the 1st quarter. Knuff & Co LLC now owns 83,866 shares of the company's stock worth $5,824,000 after purchasing an additional 68,792 shares during the period. AR Asset Management Inc. purchased a new position in shares of Novo Nordisk A/S during the 1st quarter worth $729,000. Finally, Cresset Asset Management LLC grew its holdings in shares of Novo Nordisk A/S by 5.7% during the 1st quarter. Cresset Asset Management LLC now owns 60,066 shares of the company's stock worth $4,240,000 after purchasing an additional 3,230 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Up 1.8%

NVO stock traded up $0.9920 during mid-day trading on Tuesday, reaching $54.7420. The company had a trading volume of 25,876,045 shares, compared to its average volume of 28,030,364. 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 company has a market capitalization of $244.42 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 1.84 and a beta of 0.63. The firm has a fifty day simple moving average of $64.52 and a 200 day simple moving average of $70.02. 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 quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. The company had revenue of $11.69 billion for 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 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 firm also recently announced a semi-annual dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th will be given a dividend of $0.4119 per share. This represents a dividend yield of 240.0%. The ex-dividend date of this dividend is Monday, August 18th. Novo Nordisk A/S's dividend payout ratio (DPR) is 22.53%.

Analyst Ratings Changes

NVO has been the subject of a number of research analyst reports. HSBC cut Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price target for the company. in a report on Thursday, July 31st. TD Cowen lowered their price target on Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday. Dbs Bank cut Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. BNP Paribas Exane upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 price target for the company in a report on Wednesday, August 13th. Finally, BNP Paribas upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a report on Wednesday, August 13th. Three research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $81.00.

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.