Novo Nordisk A/S $NVO Shares Sold by Webster Bank N. A.

Key Points

• Webster Bank N. A. reduced its stake in Novo Nordisk A/S by 25.1%, selling 9,931 shares, leaving them with a total of 29,706 shares valued at approximately $2,050,000.
• Several institutional investors adjusted their holdings, with Folketrygdfondet increasing its stake by 6.9%, amounting to over $661 million after purchasing additional shares.
• Novo Nordisk A/S reported a quarterly earnings per share of $0.97, surpassing analysts' expectations of $0.93, and had a net margin of 35.60%.

Webster Bank N. A. cut its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 25.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,706 shares of the company's stock after selling 9,931 shares during the quarter. Webster Bank N. A.'s holdings in Novo Nordisk A/S were worth $2,050,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Folketrygdfondet grew its stake in shares of Novo Nordisk A/S by 6.9% during the 1st quarter. Folketrygdfondet now owns 9,521,912 shares of the company's stock worth $661,202,000 after purchasing an additional 617,974 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Novo Nordisk A/S by 11.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company's stock worth $395,291,000 after purchasing an additional 576,900 shares during the period. Sustainable Growth Advisers LP grew its stake in shares of Novo Nordisk A/S by 3.8% during the 1st quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company's stock worth $384,923,000 after purchasing an additional 202,443 shares during the period. Nuveen LLC acquired a new stake in Novo Nordisk A/S in the 1st quarter valued at about $370,272,000. Finally, Amundi grew its stake in Novo Nordisk A/S by 49.1% in the 1st quarter. Amundi now owns 4,938,507 shares of the company's stock valued at $331,576,000 after acquiring an additional 1,627,051 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $54.94 on Monday. The company has a market cap of $245.31 billion, a PE ratio of 15.09, a P/E/G ratio of 2.08 and a beta of 0.66. The company has a fifty day moving average price of $57.96 and a two-hundred day moving average price of $66.17. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $138.22.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share 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 analysts' expectations of $77.51 billion. Research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current 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 given a $0.4119 dividend. The ex-dividend date was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S's payout ratio is 22.53%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NVO. Hsbc Global Res cut shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. HSBC cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price objective on the stock. in a research note on Thursday, July 31st. Zacks Research cut shares of Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 20th. BNP Paribas Exane raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 price objective on the stock in a research note on Wednesday, August 13th. Finally, UBS Group cut shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research note on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $81.00.

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.

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