Means Investment CO. Inc. Lowers Stake in Novo Nordisk A/S $NVO

Key Points

• Means Investment CO. Inc. has decreased its stake in Novo Nordisk A/S by 66.4% during the 2nd quarter, leaving it with 5,387 shares worth approximately $372,000.
• Institutional investors hold 11.54% of Novo Nordisk A/S stock, with Kingstone Capital Partners Texas LLC increasing its position by an astonishing 301,443.6%.
• Novo Nordisk A/S reported a $0.97 EPS for the latest quarter, exceeding estimates, alongside a quarterly revenue of $11.69 billion.

Means Investment CO. Inc. cut its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 66.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,387 shares of the company's stock after selling 10,629 shares during the quarter. Means Investment CO. Inc.'s holdings in Novo Nordisk A/S were worth $372,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Kingstone Capital Partners Texas LLC grew its holdings in shares of Novo Nordisk A/S by 301,443.6% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company's stock worth $690,560,000 after purchasing an additional 10,001,898 shares during the period. Nuveen LLC acquired a new position in Novo Nordisk A/S during the first quarter valued at approximately $370,272,000. Amundi lifted 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 buying an additional 1,627,051 shares in the last quarter. Acadian Asset Management LLC grew its stake 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 worth $72,523,000 after buying an additional 1,038,137 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Novo Nordisk A/S by 118.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,594,544 shares of the company's stock worth $110,725,000 after acquiring an additional 864,579 shares in the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $56.95 on Friday. The firm has a 50-day moving average of $55.44 and a two-hundred day moving average of $63.16. 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 market cap of $254.27 billion, a P/E ratio of 15.64, a PEG ratio of 2.58 and a beta of 0.68. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $120.56.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.93 by $0.04. The business had revenue of $11.69 billion for 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, research analysts expect 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 announced a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were paid a dividend of $0.4119 per share. This represents a dividend yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S's dividend payout ratio is 22.53%.

Analysts Set New Price Targets

Several research firms recently weighed in on NVO. Rothschild Redb upgraded shares of Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 16th. UBS Group lowered Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 5th. Weiss Ratings restated a "hold (c-)" rating on shares of Novo Nordisk A/S in a research note on Saturday, September 27th. Zacks Research raised Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research report on Monday, September 29th. Finally, Berenberg Bank upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of "Moderate Buy" and an average price target of $77.50.

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.

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