EP Wealth Advisors LLC Cuts Stake in Novo Nordisk A/S $NVO

Key Points

• EP Wealth Advisors LLC decreased its holdings in Novo Nordisk A/S by 19.3%, owning 46,897 shares after selling 11,208 shares during the first quarter.
• Research firms have recently adjusted ratings on Novo Nordisk A/S, with Wall Street Zen and HSBC Global Res lowering their ratings to "hold", while BNP Paribas upgraded it to "neutral."
• Novo Nordisk A/S reported $0.97 earnings per share for the last quarter, surpassing the consensus estimate and reflecting a net margin of 35.60%.

EP Wealth Advisors LLC lessened its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 19.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,897 shares of the company's stock after selling 11,208 shares during the quarter. EP Wealth Advisors LLC's holdings in Novo Nordisk A/S were worth $3,257,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of NVO. Xponance Inc. boosted its holdings in shares of Novo Nordisk A/S by 5.0% during the first quarter. Xponance Inc. now owns 3,314 shares of the company's stock worth $230,000 after purchasing an additional 158 shares during the last quarter. Foster Dykema Cabot & Partners LLC boosted its holdings in shares of Novo Nordisk A/S by 3.8% during the first quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company's stock worth $319,000 after purchasing an additional 166 shares during the last quarter. 180 Wealth Advisors LLC boosted its holdings in shares of Novo Nordisk A/S by 3.6% during the first quarter. 180 Wealth Advisors LLC now owns 5,014 shares of the company's stock worth $348,000 after purchasing an additional 173 shares during the last quarter. LRI Investments LLC boosted its holdings in shares of Novo Nordisk A/S by 1.4% during the fourth quarter. LRI Investments LLC now owns 13,060 shares of the company's stock worth $1,123,000 after purchasing an additional 176 shares during the last quarter. Finally, Beacon Financial Group boosted its holdings in shares of Novo Nordisk A/S by 6.5% during the first quarter. Beacon Financial Group now owns 2,884 shares of the company's stock worth $200,000 after purchasing an additional 177 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Trading Down 1.8%

Shares of NVO traded down $0.99 during trading hours on Friday, hitting $55.15. The stock had a trading volume of 15,486,058 shares, compared to its average volume of 14,631,845. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. The firm has a market cap of $246.23 billion, a P/E ratio of 15.15, a P/E/G ratio of 1.95 and a beta of 0.66. The company's fifty day simple moving average is $59.46 and its 200 day simple moving average is $67.62. Novo Nordisk A/S has a 12-month low of $45.05 and a 12-month high of $138.22.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share 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 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%. Equities research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were given a $0.4119 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S's dividend payout ratio (DPR) is 22.53%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. UBS Group cut Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday, August 5th. Zacks Research cut Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 20th. Wall Street Zen cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. HSBC cut Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price objective on the stock. in a report on Thursday, July 31st. Finally, TD Cowen decreased their price objective 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. Three investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $81.00.

About Novo Nordisk A/S

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.