Norman Fields Gottscho Capital Management LLC Sells 33,275 Shares of Novo Nordisk A/S $NVO

Key Points

• Norman Fields Gottscho Capital Management LLC reduced its holdings in Novo Nordisk A/S by 43.1%, selling 33,275 shares and now owning 43,937 shares valued at approximately $3,033,000.
• Several institutional investors have increased their positions in Novo Nordisk A/S, with Acadian Asset Management LLC raising its stake by a jaw-dropping 15,919.9%.
• Novo Nordisk A/S reported $11.69 billion in revenue for the quarter, surpassing analysts' consensus estimates, and announced a dividend of $0.4119 per share.

Norman Fields Gottscho Capital Management LLC lessened its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 43.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 43,937 shares of the company's stock after selling 33,275 shares during the period. Novo Nordisk A/S accounts for 1.0% of Norman Fields Gottscho Capital Management LLC's investment portfolio, making the stock its 16th biggest position. Norman Fields Gottscho Capital Management LLC's holdings in Novo Nordisk A/S were worth $3,033,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC lifted its position 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 worth $72,523,000 after purchasing an additional 1,038,137 shares during the period. North Star Investment Management Corp. lifted its position in shares of Novo Nordisk A/S by 18.2% in the 1st quarter. North Star Investment Management Corp. now owns 20,742 shares of the company's stock worth $1,440,000 after purchasing an additional 3,200 shares during the period. Rhumbline Advisers lifted its position in shares of Novo Nordisk A/S by 10.2% in the 1st quarter. Rhumbline Advisers now owns 63,539 shares of the company's stock worth $4,412,000 after purchasing an additional 5,898 shares during the period. Martin Capital Partners LLC lifted its position in shares of Novo Nordisk A/S by 261.5% in the 2nd quarter. Martin Capital Partners LLC now owns 76,448 shares of the company's stock worth $5,276,000 after purchasing an additional 55,298 shares during the period. Finally, Cim LLC lifted its position in shares of Novo Nordisk A/S by 4.0% in the 1st quarter. Cim LLC now owns 220,221 shares of the company's stock worth $15,292,000 after purchasing an additional 8,398 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $55.62 on Tuesday. The company has a 50 day moving average price of $57.69 and a 200-day moving average price of $65.92. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $138.22. The firm has a market capitalization of $248.34 billion, a PE ratio of 15.28, a P/E/G ratio of 2.08 and a beta of 0.66. 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 (NYSE:NVO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The firm had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. As a group, equities research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were given a dividend of $0.4119 per share. This represents a yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S's payout ratio is 22.53%.

Wall Street Analyst Weigh In

NVO has been the subject of several research analyst reports. HSBC cut 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 report on Thursday, July 31st. BNP Paribas raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research report on Wednesday, August 13th. Sanford C. Bernstein raised shares of Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a research report on Tuesday, September 9th. TD Cowen lowered their price target on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, August 19th. Finally, Barclays reissued an "equal weight" rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $81.00.

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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