Hodges Capital Management Inc. Sells 23,225 Shares of Novo Nordisk A/S $NVO

Key Points

• Hodges Capital Management Inc. reduced its holdings in Novo Nordisk A/S by 82.3%, selling 23,225 shares and bringing its total to 4,989 shares valued at $346,000.
• Several institutional investors have increased their positions in Novo Nordisk, with Acadian Asset Management boosting its stake by nearly 15,920% to over 1 million shares.
• Analyst ratings for Novo Nordisk vary, with Zacks Research downgrading the stock to a "strong sell," while BNP Paribas upgraded it to "neutral."

Hodges Capital Management Inc. decreased its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 82.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,989 shares of the company's stock after selling 23,225 shares during the quarter. Hodges Capital Management Inc.'s holdings in Novo Nordisk A/S were worth $346,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Modern Wealth Management LLC bought a new position in shares of Novo Nordisk A/S during the 1st quarter worth $414,000. Rhumbline Advisers lifted its holdings in Novo Nordisk A/S by 10.2% during the 1st quarter. Rhumbline Advisers now owns 63,539 shares of the company's stock worth $4,412,000 after purchasing an additional 5,898 shares in the last quarter. Jacobi Capital Management LLC lifted its holdings in Novo Nordisk A/S by 61.7% during the 1st quarter. Jacobi Capital Management LLC now owns 13,324 shares of the company's stock worth $925,000 after purchasing an additional 5,084 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Novo Nordisk A/S by 15,919.9% during the 1st 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 in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in Novo Nordisk A/S by 6.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 20,585 shares of the company's stock worth $1,429,000 after purchasing an additional 1,266 shares in the last quarter. Institutional investors own 11.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NVO. Zacks Research cut Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 20th. Wall Street Zen cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. BNP Paribas raised Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a report on Wednesday, August 13th. TD Cowen dropped their price objective on Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating on the stock in a report on Tuesday, August 19th. Finally, Dbs Bank raised Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a report on Friday, August 22nd. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $81.00.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $54.94 on Friday. The business's 50-day moving average price is $57.96 and its two-hundred day moving average price is $66.49. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $138.22. The stock has a market cap of $245.31 billion, a P/E ratio of 15.09, a PEG ratio of 2.06 and a beta of 0.66. 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 (NYSE:NVO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 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 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%. As a group, equities analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

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.

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