Novo Nordisk A/S $NVO Shares Sold by Aberdeen Group plc

Key Points

• Aberdeen Group plc has reduced its holdings in Novo Nordisk A/S by 8.8%, now owning 256,040 shares valued at approximately $17.67 million.
• In its last earnings report, Novo Nordisk A/S reported an EPS of $0.97, surpassing estimates of $0.93, with a revenue of $11.69 billion for the quarter.
• Analysts have varied views on Novo Nordisk, with TD Cowen lowering its price target significantly from $105 to $70, while BMO Capital Markets increased its target to $55.

Aberdeen Group plc cut its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 8.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 256,040 shares of the company's stock after selling 24,694 shares during the quarter. Aberdeen Group plc's holdings in Novo Nordisk A/S were worth $17,672,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. North Capital Inc. acquired a new stake in Novo Nordisk A/S during the first quarter worth approximately $27,000. Copeland Capital Management LLC boosted its position in Novo Nordisk A/S by 184.8% during the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock worth $27,000 after acquiring an additional 255 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in Novo Nordisk A/S during the first quarter worth approximately $30,000. Disciplina Capital Management LLC boosted its position in Novo Nordisk A/S by 162.3% during the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company's stock worth $33,000 after acquiring an additional 297 shares during the last quarter. Finally, Spirit of America Management Corp NY acquired a new stake in Novo Nordisk A/S during the first quarter worth approximately $35,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $56.67 on Wednesday. The company's fifty day simple moving average is $55.80 and its 200-day simple moving average is $62.98. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $119.09. 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 company has a market cap of $253.03 billion, a PE ratio of 15.57, a P/E/G ratio of 2.60 and a beta of 0.68.

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. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The business had revenue of $11.69 billion for the quarter, compared to the consensus estimate of $77.51 billion. As a group, equities research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS 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. Stockholders of record on Monday, August 18th were paid a $0.4119 dividend. This represents a dividend yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S's dividend payout ratio (DPR) is currently 22.53%.

Analyst Upgrades and Downgrades

NVO has been the topic of a number of analyst reports. TD Cowen decreased their target price on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, August 19th. BMO Capital Markets reaffirmed a "market perform" rating and set a $55.00 price target (up previously from $50.00) on shares of Novo Nordisk A/S in a research note on Tuesday. HSBC set a $70.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, October 1st. Hsbc Global Res raised shares of Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 1st. Finally, Berenberg Bank raised shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $76.00.

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.

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