Mirae Asset Global Investments Co. Ltd. Reduces Stock Holdings in Novo Nordisk A/S $NVO

Key Points

• Mirae Asset Global Investments Co. Ltd. decreased its holdings in Novo Nordisk A/S by 36.9%, owning 1,006,406 shares valued at approximately $69.46 million after selling 588,138 shares.
• Several large investors, including Kingstone Capital Partners and Acadian Asset Management, significantly increased their positions in Novo Nordisk A/S during the same period.
• Analysts have mixed ratings on Novo Nordisk A/S, with an average target price of $77.50 and a rating of "Moderate Buy," despite shifts from "buy" to "neutral" by some firms.

Mirae Asset Global Investments Co. Ltd. reduced its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 36.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,006,406 shares of the company's stock after selling 588,138 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Novo Nordisk A/S were worth $69,462,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in NVO. Kingstone Capital Partners Texas LLC boosted its holdings in shares of Novo Nordisk A/S by 301,443.6% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company's stock valued at $690,560,000 after acquiring an additional 10,001,898 shares during the last quarter. Nuveen LLC acquired a new position in shares of Novo Nordisk A/S in the 1st quarter valued at $370,272,000. Amundi lifted its stake in shares of Novo Nordisk A/S by 49.1% in the 1st 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 period. Acadian Asset Management LLC lifted its stake in shares of Novo Nordisk A/S by 15,919.9% in the 1st 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 period. Finally, DAVENPORT & Co LLC lifted its stake in shares of Novo Nordisk A/S by 61.1% in the 1st quarter. DAVENPORT & Co LLC now owns 1,695,522 shares of the company's stock valued at $117,682,000 after purchasing an additional 642,810 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Hsbc Global Res upgraded shares of Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. Barclays reiterated an "equal weight" rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. UBS Group cut shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research note on Tuesday, August 5th. Zacks Research raised shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a report on Monday. Finally, Dbs Bank raised shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a report on Friday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Novo Nordisk A/S has an average rating of "Moderate Buy" and an average target price of $77.50.

Novo Nordisk A/S Stock Performance

NVO opened at $58.77 on Friday. The firm's fifty day simple moving average is $55.16 and its two-hundred day simple moving average is $63.98. The company has a market cap of $262.42 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 2.27 and a beta of 0.68. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a 52-week low of $45.05 and a 52-week high of $120.56.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. The business had revenue of $11.69 billion during the quarter, compared to analysts' expectations of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. Equities 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 announced a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were given a $0.4119 dividend. 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%.

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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