Novo Nordisk A/S $NVO Shares Sold by Vantage Investment Partners LLC

Key Points

• Vantage Investment Partners LLC reduced its stake in Novo Nordisk A/S by 1.2% during the second quarter, holding 454,124 shares worth approximately $31.34 million.
• Novo Nordisk A/S reported $0.97 EPS for the quarter, exceeding analyst estimates of $0.93, with total revenue of $11.69 billion.
• Institutional investors and hedge funds own 11.54% of Novo Nordisk A/S's stock, while the company has an average target price of $77.50 according to analyst ratings.

Vantage Investment Partners LLC decreased its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 454,124 shares of the company's stock after selling 5,563 shares during the quarter. Novo Nordisk A/S accounts for approximately 2.3% of Vantage Investment Partners LLC's portfolio, making the stock its 20th largest holding. Vantage Investment Partners LLC's holdings in Novo Nordisk A/S were worth $31,344,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC boosted its holdings in Novo Nordisk A/S by 8.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock worth $214,000 after buying an additional 200 shares during the last quarter. Rhumbline Advisers increased its position in shares of Novo Nordisk A/S by 10.2% during the first quarter. Rhumbline Advisers now owns 63,539 shares of the company's stock worth $4,412,000 after purchasing an additional 5,898 shares in the last quarter. Pines Wealth Management LLC raised its stake in Novo Nordisk A/S by 69.1% in the 1st quarter. Pines Wealth Management LLC now owns 6,481 shares of the company's stock valued at $450,000 after purchasing an additional 2,648 shares during the last quarter. Independence Bank of Kentucky raised its stake in Novo Nordisk A/S by 8.1% in the 1st quarter. Independence Bank of Kentucky now owns 14,260 shares of the company's stock valued at $990,000 after purchasing an additional 1,070 shares during the last quarter. Finally, Princeton Global Asset Management LLC lifted its holdings in Novo Nordisk A/S by 52.8% in the 1st quarter. Princeton Global Asset Management LLC now owns 4,250 shares of the company's stock valued at $295,000 after purchasing an additional 1,469 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Stock Up 1.6%

NVO opened at $59.68 on Monday. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $120.56. The company has a market cap of $266.45 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 2.63 and a beta of 0.68. The business's fifty day moving average is $54.92 and its two-hundred day moving average is $63.63. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (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 the consensus estimate of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were paid 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 (DPR) is 22.53%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barclays reissued an "equal weight" rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Rothschild Redb upgraded Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 16th. Sanford C. Bernstein raised Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a research note on Tuesday, September 9th. Zacks Research upgraded Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a report on Monday, September 29th. Finally, Dbs Bank raised shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research report on Friday, August 22nd. 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $77.50.

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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