Novo Nordisk A/S (NYSE:NVO) Shares Sold by Lockheed Martin Investment Management Co.

Key Points

• Lockheed Martin Investment Management Co. sold 57,000 shares of Novo Nordisk A/S, reducing its stake by 78.6%, leaving it with only 15,550 shares valued at approximately $1.08 million.
• Despite the recent sell-off, Novo Nordisk A/S experienced a 4.7% increase in its stock price, currently trading at $51.06, significantly lower than its 12-month high of $139.74.
• In its latest earnings report, Novo Nordisk A/S posted $0.97 earnings per share, surpassing estimates, while also announcing a semi-annual dividend of $0.4119 per share.

Lockheed Martin Investment Management Co. lowered its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 78.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,550 shares of the company's stock after selling 57,000 shares during the quarter. Lockheed Martin Investment Management Co.'s holdings in Novo Nordisk A/S were worth $1,080,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NVO. Strategic Investment Solutions Inc. IL increased its position in shares of Novo Nordisk A/S by 2,727.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company's stock valued at $27,000 after buying an additional 300 shares in the last quarter. Copeland Capital Management LLC increased its position in shares of Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after buying an additional 255 shares in the last quarter. North Capital Inc. purchased a new position in shares of Novo Nordisk A/S in the first quarter valued at $27,000. Park Square Financial Group LLC purchased a new position in shares of Novo Nordisk A/S in the fourth quarter valued at $29,000. Finally, Transce3nd LLC purchased a new position in shares of Novo Nordisk A/S in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock traded up $2.30 during midday trading on Friday, reaching $51.06. 23,312,357 shares of the company were exchanged, compared to its average volume of 24,770,900. The company has a market capitalization of $227.98 billion, a price-to-earnings ratio of 14.03, a P/E/G ratio of 1.75 and a beta of 0.63. The firm's 50-day simple moving average is $67.14 and its 200-day simple moving average is $71.47. 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 quick ratio of 0.56 and a current ratio of 0.78.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The firm had revenue of $11.69 billion during the quarter, compared to analysts' expectations 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 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th will be paid a $0.4119 dividend. This represents a 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 presently 45.05%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NVO. Dbs Bank cut Novo Nordisk A/S to a "sell" rating in a research report on Friday, April 25th. 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 research report on Thursday, July 31st. BMO Capital Markets restated a "market perform" rating and issued a $64.00 price target (down previously from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Barclays restated an "equal weight" rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Finally, Wall Street Zen cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Novo Nordisk A/S presently has an average rating of "Hold" and a consensus price target of $93.67.

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.