Novo Nordisk A/S $NVO Shares Sold by Boston Family Office LLC

Key Points

• Boston Family Office LLC reduced its stake in Novo Nordisk A/S by 15.5%, owning 37,848 shares valued at approximately $2.63 million following a sale of 6,956 shares.
• Nuveen LLC made a significant investment, acquiring a new stake of about $370.27 million in Novo Nordisk A/S during the same time period.
• As of the last quarterly earnings report, Novo Nordisk A/S reported an EPS of $0.97, exceeding analyst expectations of $0.93, contributing to a net margin of 35.60%.

Boston Family Office LLC lessened its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 15.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,848 shares of the company's stock after selling 6,956 shares during the quarter. Boston Family Office LLC's holdings in Novo Nordisk A/S were worth $2,628,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of America Corp DE lifted its position in shares of Novo Nordisk A/S by 8.1% during the 4th quarter. Bank of America Corp DE now owns 15,492,384 shares of the company's stock worth $1,332,655,000 after buying an additional 1,165,955 shares during the last quarter. Folketrygdfondet grew its holdings in 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 acquiring an additional 617,974 shares during the period. Nuveen Asset Management LLC lifted its stake in Novo Nordisk A/S by 73.2% in the fourth quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company's stock valued at $537,189,000 after buying an additional 2,639,693 shares during the period. Goldman Sachs Group Inc. grew its holdings in Novo Nordisk A/S by 11.3% in the first 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. Finally, Sustainable Growth Advisers LP raised its stake in 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 buying an additional 202,443 shares during the period. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Up 2.9%

NVO traded up $1.48 during trading hours on Friday, hitting $52.43. 15,912,328 shares of the company's stock were exchanged, compared to its average volume of 26,822,148. Novo Nordisk A/S has a 12-month low of $45.05 and a 12-month high of $139.74. The firm has a 50 day moving average of $64.96 and a 200 day moving average of $70.24. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The firm has a market cap of $234.10 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 1.80 and a beta of 0.63.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (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 the consensus estimate of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. Analysts predict 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 declared a semi-annual dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th will be issued a $0.4119 dividend. The ex-dividend date is Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S's payout ratio is 45.05%.

Analyst Upgrades and Downgrades

NVO has been the topic of a number of analyst reports. UBS Group lowered shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday, August 5th. BNP Paribas Exane upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 price objective for the company in a report on Wednesday. Wall Street Zen downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Dbs Bank lowered Novo Nordisk A/S to a "sell" rating in a research report on Friday, April 25th. Finally, BNP Paribas raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $83.75.

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.