Novo Nordisk A/S (NYSE:NVO) Shares Sold by GQG Partners LLC

Key Points

• GQG Partners LLC reduced its holdings in Novo Nordisk A/S by 99.1%, selling nearly 12.9 million shares and holding only 117,125 shares worth approximately $8.1 million as of the latest SEC filing.
• Recent reports suggest institutional investors have varied strategies, with some significantly increasing their positions, such as Strategic Investment Solutions Inc. raising its stake by 2,727.3%.
• Novo Nordisk A/S stock has a current price of $49.79 and reported a quarterly EPS of $0.97, exceeding analyst expectations, while maintaining a high net margin of 35.60%.

GQG Partners LLC cut its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 99.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 117,125 shares of the company's stock after selling 12,877,408 shares during the period. GQG Partners LLC's holdings in Novo Nordisk A/S were worth $8,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL raised its position in shares of Novo Nordisk A/S by 2,727.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company's stock worth $27,000 after acquiring an additional 300 shares during the period. Park Square Financial Group LLC acquired a new position in shares of Novo Nordisk A/S in the fourth quarter worth about $29,000. Transce3nd LLC acquired a new position in shares of Novo Nordisk A/S in the fourth quarter worth about $33,000. North Capital Inc. acquired a new position in shares of Novo Nordisk A/S in the first quarter worth about $27,000. Finally, Copeland Capital Management LLC raised its position in shares of Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock worth $27,000 after acquiring an additional 255 shares during the period. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $49.79 on Wednesday. The firm has a 50 day simple moving average of $66.26 and a 200-day simple moving average of $71.05. 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 1-year low of $45.05 and a 1-year high of $139.74. The stock has a market cap of $222.31 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 1.71 and a beta of 0.63.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. On average, analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th will be issued a $0.4119 dividend. This represents a dividend yield of 240.0%. The ex-dividend date is Monday, August 18th. Novo Nordisk A/S's dividend payout ratio is currently 45.05%.

Analyst Upgrades and Downgrades

NVO has been the subject of a number of research reports. BNP Paribas raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research note on Wednesday. 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. Guggenheim cut shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. Wall Street Zen cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. 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. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $93.67.

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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