Novo Nordisk A/S $NVO Shares Sold by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions Inc. reduced its holdings in Novo Nordisk A/S by 31.8% during the second quarter, selling 23,699 shares, leaving it with 50,870 shares valued at approximately $3.5 million.
• Novo Nordisk recently reported $0.97 earnings per share, exceeding analyst estimates of $0.93, with revenue of $11.69 billion during the quarter.
• Several research analysts have upgraded their ratings on Novo Nordisk, with the stock receiving an average rating of "Moderate Buy" and a price target of $76.00.

Envestnet Portfolio Solutions Inc. decreased its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 31.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,870 shares of the company's stock after selling 23,699 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Novo Nordisk A/S were worth $3,511,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVO. Revolve Wealth Partners LLC increased its stake in Novo Nordisk A/S by 8.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock worth $214,000 after acquiring an additional 200 shares during the last quarter. GAMMA Investing LLC increased its stake in Novo Nordisk A/S by 9.6% during the first quarter. GAMMA Investing LLC now owns 9,466 shares of the company's stock worth $657,000 after acquiring an additional 827 shares during the last quarter. CX Institutional acquired a new stake in Novo Nordisk A/S during the first quarter worth $36,000. Inscription Capital LLC purchased a new position in shares of Novo Nordisk A/S during the first quarter worth $335,000. Finally, GSB Wealth Management LLC boosted its position in shares of Novo Nordisk A/S by 3.3% during the first quarter. GSB Wealth Management LLC now owns 25,194 shares of the company's stock worth $1,749,000 after buying an additional 800 shares during the period. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Trading Up 0.1%

NYSE:NVO opened at $56.72 on Thursday. The firm has a market cap of $253.23 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 2.60 and a beta of 0.68. The stock has a fifty day moving average price of $56.03 and a 200 day moving average price of $62.94. Novo Nordisk A/S has a 12-month low of $45.05 and a 12-month high of $119.07. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. The firm had revenue of $11.69 billion during 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%. Sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Analyst Ratings Changes

Several research analysts have recently commented on NVO shares. Sanford C. Bernstein upgraded Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a research report on Tuesday, September 9th. Berenberg Bank upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Wednesday, September 17th. Wall Street Zen lowered Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Morgan Stanley lowered Novo Nordisk A/S from an "overweight" rating to an "underweight" rating and lowered their price target for the stock from $59.00 to $47.00 in a research report on Monday, September 29th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Novo Nordisk A/S in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $76.00.

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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