Jones Financial Companies Lllp Has $2.21 Million Position in Novo Nordisk A/S $NVO

Key Points

• Jones Financial Companies Lllp has reduced its holdings in Novo Nordisk A/S by 55.9%, selling 40,303 shares to hold a total of 31,749 shares valued at $2,205,000.
• Several institutional investors, including Xponance Inc. and Foster Dykema Cabot & Partners LLC, increased their positions in Novo Nordisk during the same period, indicating ongoing interest in the stock.
• Novo Nordisk's latest earnings report showed an EPS of $0.97, above expectations, despite reporting revenue significantly below analyst estimates.

Jones Financial Companies Lllp trimmed its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 55.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,749 shares of the company's stock after selling 40,303 shares during the period. Jones Financial Companies Lllp's holdings in Novo Nordisk A/S were worth $2,205,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NVO. Revolve Wealth Partners LLC boosted its position in shares of Novo Nordisk A/S by 8.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock valued at $214,000 after acquiring an additional 200 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Novo Nordisk A/S by 3.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,080 shares of the company's stock valued at $8,179,000 after purchasing an additional 2,920 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in Novo Nordisk A/S by 73.2% during the 4th quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company's stock valued at $537,189,000 after purchasing an additional 2,639,693 shares during the last quarter. Quadcap Wealth Management LLC lifted its holdings in Novo Nordisk A/S by 84.4% during the 4th quarter. Quadcap Wealth Management LLC now owns 3,623 shares of the company's stock valued at $312,000 after purchasing an additional 1,658 shares during the last quarter. Finally, Polar Asset Management Partners Inc. lifted its holdings in Novo Nordisk A/S by 86.0% during the 4th quarter. Polar Asset Management Partners Inc. now owns 27,900 shares of the company's stock valued at $2,400,000 after purchasing an additional 12,900 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NVO has been the subject of several analyst reports. BNP Paribas raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a report on Wednesday, August 13th. HSBC downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 target price for the company. in a research note on Thursday, July 31st. Hsbc Global Res downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Wall Street Zen downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, BNP Paribas Exane raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 target price for the company in a research note on Wednesday, August 13th. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $81.00.

Novo Nordisk A/S Stock Performance

NVO stock traded up $0.64 during trading hours on Friday, reaching $54.94. The stock had a trading volume of 10,301,812 shares, compared to its average volume of 14,363,850. The stock has a market capitalization of $245.31 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 2.06 and a beta of 0.66. 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 stock has a 50-day simple moving average of $58.25 and a 200 day simple moving average of $66.74. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $138.22.

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, topping analysts' consensus estimates of $0.93 by $0.04. The company had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. Analysts predict 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 issued a dividend of $0.4119 per share. This represents a yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S's payout ratio is presently 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.