Novo Nordisk A/S $NVO Shares Sold by Synovus Financial Corp

Key Points

• Synovus Financial Corp has significantly reduced its holdings in Novo Nordisk A/S by 61.2% during the first quarter, now owning 26,779 shares valued at approximately $1.86 million.
• Several analysts have changed their ratings on Novo Nordisk A/S, with BNP Paribas upgrading it to a neutral rating, while others like HSBC have downgraded it to a hold rating.
• Despite a recent 1.9% drop in stock price, Novo Nordisk A/S reported earnings of $0.97 EPS, surpassing analyst estimates.

Synovus Financial Corp decreased its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 61.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,779 shares of the company's stock after selling 42,315 shares during the quarter. Synovus Financial Corp's holdings in Novo Nordisk A/S were worth $1,860,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of NVO. Park Square Financial Group LLC bought a new stake in Novo Nordisk A/S in the fourth quarter valued at about $29,000. North Capital Inc. bought a new stake in Novo Nordisk A/S in the first quarter valued at about $27,000. Copeland Capital Management LLC increased its holdings in Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after buying an additional 255 shares during the last quarter. Stone House Investment Management LLC bought a new stake in Novo Nordisk A/S in the first quarter valued at about $30,000. Finally, Mascagni Wealth Management Inc. bought a new stake in Novo Nordisk A/S in the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 11.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. BNP Paribas raised Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a report on Wednesday, August 13th. HSBC lowered Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price objective for the company. in a report on Thursday, July 31st. Hsbc Global Res lowered Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Wall Street Zen lowered Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Zacks Research lowered Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 20th. Three investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of "Hold" and an average target price of $81.00.

Novo Nordisk A/S Stock Down 1.9%

NYSE:NVO opened at $55.29 on Wednesday. The firm has a market capitalization of $246.86 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 1.96 and a beta of 0.63. The stock has a 50 day moving average of $61.78 and a 200-day moving average of $68.90. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $139.74. 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 posted its earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. The company 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%. Analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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

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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