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Holderness Investments Co. Reduces Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Novo Nordisk A/S logo with Medical background

Key Points

  • Holderness Investments Co. has reduced its stake in Novo Nordisk A/S by 41.0%, selling 6,909 shares and now holding 9,930 shares valued at $690,000.
  • Several institutional investors, including Nuveen LLC, have recently altered their stakes in Novo Nordisk, with notable purchases and increases in holdings during the past quarter.
  • Novo Nordisk reported earnings of $0.97 per share for the most recent quarter, exceeding expectations, while also announcing a new semi-annual dividend of $0.4119 per share.
  • Looking to export and analyze Novo Nordisk A/S data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Holderness Investments Co. decreased its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 41.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,930 shares of the company's stock after selling 6,909 shares during the quarter. Holderness Investments Co.'s holdings in Novo Nordisk A/S were worth $690,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVO. Nuveen LLC purchased a new stake in Novo Nordisk A/S in the first quarter worth $370,272,000. Nuveen Asset Management LLC lifted its stake in Novo Nordisk A/S by 73.2% in the fourth quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company's stock worth $537,189,000 after acquiring an additional 2,639,693 shares during the period. Two Sigma Investments LP bought a new position in Novo Nordisk A/S in the fourth quarter worth $158,657,000. Bank of America Corp DE raised its holdings in Novo Nordisk A/S by 8.1% in the fourth quarter. Bank of America Corp DE now owns 15,492,384 shares of the company's stock worth $1,332,655,000 after purchasing an additional 1,165,955 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Novo Nordisk A/S by 26.8% in the fourth quarter. Northern Trust Corp now owns 4,689,098 shares of the company's stock worth $403,356,000 after purchasing an additional 991,022 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $50.90 on Thursday. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $139.74. 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 has a fifty day moving average price of $65.84 and a 200-day moving average price of $70.91. The company has a market capitalization of $227.27 billion, a PE ratio of 13.98, a PEG ratio of 1.71 and a beta of 0.63.

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 for the quarter, beating the consensus estimate of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. The firm had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. As a group, equities analysts expect 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 disclosed a semi-annual dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be given 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 (DPR) is 45.05%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. BMO Capital Markets reiterated a "market perform" rating and issued a $64.00 price objective (down previously from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Wall Street Zen downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Guggenheim downgraded Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Dbs Bank downgraded Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. Finally, BNP Paribas upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $83.75.

Check Out Our Latest Report on NVO

About Novo Nordisk A/S

(Free Report)

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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Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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