Kathmere Capital Management LLC Has $621,000 Stock Holdings in Novo Nordisk A/S $NVO

Key Points

• Kathmere Capital Management LLC has reduced its holdings in Novo Nordisk A/S by 40.1%, now owning approximately 8,999 shares valued at $621,000.
• Institutional investors collectively own 11.54% of Novo Nordisk A/S, with significant increases in holdings from several firms, including Kingstone Capital Partners Texas LLC.
• Novo Nordisk A/S reported $0.97 earnings per share for the most recent quarter, surpassing estimates, and has a market cap of $248.30 billion.

Kathmere Capital Management LLC lessened its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 40.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,999 shares of the company's stock after selling 6,031 shares during the period. Kathmere Capital Management LLC's holdings in Novo Nordisk A/S were worth $621,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NVO. Kingstone Capital Partners Texas LLC boosted 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 valued at $690,560,000 after purchasing an additional 10,001,898 shares during the last quarter. Nuveen LLC acquired a new stake in Novo Nordisk A/S during the first quarter valued at $370,272,000. Amundi boosted its position in Novo Nordisk A/S by 49.1% during the first quarter. Amundi now owns 4,938,507 shares of the company's stock valued at $331,576,000 after purchasing an additional 1,627,051 shares during the last quarter. Acadian Asset Management LLC boosted its position in Novo Nordisk A/S by 15,919.9% during the first quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company's stock valued at $72,523,000 after purchasing an additional 1,038,137 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Novo Nordisk A/S by 118.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,594,544 shares of the company's stock valued at $110,725,000 after purchasing an additional 864,579 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Price Performance

NYSE NVO opened at $55.61 on Friday. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $121.34. The stock's 50-day moving average is $56.03 and its two-hundred day moving average is $64.46. 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 firm has a market cap of $248.30 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 2.11 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its 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. 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%. On average, analysts anticipate 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 disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were paid a $0.4119 dividend. The ex-dividend date was Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S's payout ratio is presently 22.53%.

Wall Street Analyst Weigh In

NVO has been the subject of a number of research reports. Wall Street Zen cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Rothschild Redb raised Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 16th. UBS Group cut Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 5th. TD Cowen cut their target price 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, Hsbc Global Res lowered Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $81.00.

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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