Invesco Ltd. Has $23.07 Million Stock Holdings in Novo Nordisk A/S $NVO

Key Points

• Invesco Ltd. sold 16,984 shares of Novo Nordisk A/S, reducing its stake by 4.9% to a total of 332,224 shares.
• Novo Nordisk A/S reported earnings of $0.97 per share, exceeding expectations, with revenue of $11.69 billion for the quarter.
• The company’s semi-annual dividend of $0.4119 signifies a dividend yield of 240.0% and a payout ratio of 22.53%.

Invesco Ltd. lessened its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 4.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 332,224 shares of the company's stock after selling 16,984 shares during the period. Invesco Ltd.'s holdings in Novo Nordisk A/S were worth $23,070,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. North Star Investment Management Corp. increased its stake in Novo Nordisk A/S by 18.2% during the 1st quarter. North Star Investment Management Corp. now owns 20,742 shares of the company's stock valued at $1,440,000 after buying an additional 3,200 shares during the period. Bank of New York Mellon Corp increased its stake in Novo Nordisk A/S by 6.0% during the 1st quarter. Bank of New York Mellon Corp now owns 839,802 shares of the company's stock valued at $58,316,000 after buying an additional 47,804 shares during the period. Stanley Laman Group Ltd. acquired a new position in Novo Nordisk A/S during the 1st quarter valued at about $390,000. Dover Advisors LLC acquired a new position in Novo Nordisk A/S during the 1st quarter valued at about $505,000. Finally, GAMMA Investing LLC increased its stake in Novo Nordisk A/S by 9.6% during the 1st quarter. GAMMA Investing LLC now owns 9,466 shares of the company's stock valued at $657,000 after buying an additional 827 shares during the period. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Trading Up 2.6%

Shares of NVO traded up $1.4410 during midday trading on Friday, hitting $56.8910. The stock had a trading volume of 17,869,499 shares, compared to its average volume of 29,123,660. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The firm has a market cap of $254.02 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 1.93 and a beta of 0.63. The business has a 50-day simple moving average of $62.57 and a two-hundred day simple moving average of $69.45. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $139.74.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted 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 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%. As a group, equities analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be issued a dividend of $0.4119 per share. This represents a dividend yield of 240.0%. The ex-dividend date is Monday, August 18th. Novo Nordisk A/S's dividend payout ratio (DPR) is currently 22.53%.

Analyst Ratings Changes

NVO has been the topic of several recent research reports. HSBC cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price objective on the stock. in a research note on Thursday, July 31st. Wall Street Zen cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. TD Cowen lowered their price objective on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday. BNP Paribas Exane raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 price objective on the stock in a research note on Wednesday, August 13th. Finally, 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. Three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $81.00.

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.