Novo Nordisk A/S $NVO Shares Sold by Calamos Wealth Management LLC

Key Points

• Calamos Wealth Management LLC has significantly reduced its holdings in Novo Nordisk A/S by 69%, now owning 7,067 shares valued at approximately $488,000.
• Several institutional investors increased their positions in Novo Nordisk, with Kingstone Capital Partners Texas LLC's holdings skyrocketing by 301,443.6%, now owning over 10 million shares worth about $690 million.
• Analysts have generally upgraded their ratings on Novo Nordisk A/S, with a current consensus rating of "Moderate Buy" and an average price target of $76.00.

Calamos Wealth Management LLC reduced its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 69.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,067 shares of the company's stock after selling 15,697 shares during the period. Calamos Wealth Management LLC's holdings in Novo Nordisk A/S were worth $488,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NVO. Kingstone Capital Partners Texas LLC increased its position in Novo Nordisk A/S by 301,443.6% in the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company's stock worth $690,560,000 after buying an additional 10,001,898 shares during the period. Folketrygdfondet increased its position in Novo Nordisk A/S by 6.9% in the first quarter. Folketrygdfondet now owns 9,521,912 shares of the company's stock worth $661,202,000 after buying an additional 617,974 shares during the period. Goldman Sachs Group Inc. increased its position in Novo Nordisk A/S by 11.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company's stock worth $395,291,000 after buying an additional 576,900 shares during the period. Sustainable Growth Advisers LP increased its position in Novo Nordisk A/S by 3.8% in the first quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company's stock worth $384,923,000 after buying an additional 202,443 shares during the period. Finally, Nuveen LLC acquired a new stake in Novo Nordisk A/S in the first quarter worth $370,272,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. BNP Paribas raised Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research report on Wednesday, August 13th. Barclays reissued an "equal weight" rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Zacks Research raised Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research note on Monday, September 29th. Dbs Bank raised Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research note on Friday, August 22nd. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Novo Nordisk A/S in a research note on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $76.00.

Novo Nordisk A/S Trading Down 3.0%

Shares of NVO stock opened at $54.41 on Monday. The stock has a 50-day simple moving average of $56.24 and a 200 day simple moving average of $62.69. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $118.26. The stock has a market capitalization of $242.93 billion, a P/E ratio of 14.95, a P/E/G ratio of 2.50 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 (NYSE:NVO - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The business had revenue of $11.69 billion during the quarter, compared to analysts' expectations of $77.51 billion. On average, sell-side analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were issued a dividend of $0.4119 per share. 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 is currently 22.53%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.