Novo Nordisk A/S $NVO Stock Position Lowered by Compagnie Lombard Odier SCmA

Key Points

• Compagnie Lombard Odier SCmA has reduced its stake in Novo Nordisk A/S by 19.2%, now holding 51,085 shares worth approximately $3.53 million.
• Research analysts have recently downgraded Novo Nordisk A/S from a "buy" to a "hold" rating, with a consensus target price now at $81.00.
• Novo Nordisk A/S reported earnings of $0.97 per share for the last quarter, surpassing analysts’ expectations of $0.93.

Compagnie Lombard Odier SCmA lessened its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 19.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 51,085 shares of the company's stock after selling 12,145 shares during the period. Compagnie Lombard Odier SCmA's holdings in Novo Nordisk A/S were worth $3,526,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NVO shares. Wall Street Zen downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Zacks Research downgraded Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 20th. Barclays reiterated an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. HSBC lowered Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 target price on the stock. in a research report on Thursday, July 31st. Finally, TD Cowen dropped their target price on Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $81.00.

Novo Nordisk A/S Trading Down 1.1%

NVO stock opened at $60.70 on Tuesday. The business has a fifty day moving average price of $56.71 and a 200 day moving average price of $64.92. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $127.61. The stock has a market capitalization of $271.03 billion, a price-to-earnings ratio of 16.68, a P/E/G ratio of 2.33 and a beta of 0.66. 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 (NYSE:NVO - Get Free Report) last released its quarterly earnings results 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 return on equity of 78.64% and a net margin of 35.60%.The firm had revenue of $11.69 billion during the quarter, compared to analysts' expectations of $77.51 billion. Analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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