Novo Nordisk A/S (NYSE:NVO) Stake Reduced by Ethic Inc.

Key Points

• Ethic Inc. has reduced its stake in Novo Nordisk A/S by 3.8%, now holding 165,133 shares valued at approximately $11.23 million after selling 6,489 shares.
• Multiple analysts downgraded their ratings for Novo Nordisk A/S, with HSBC changing its stance from "buy" to "hold" and setting a price target of $57.00.
• The company reported earnings per share of $0.97 for the last quarter, surpassing the consensus estimate, while also announcing a semi-annual dividend of $0.4119 per share.

Ethic Inc. reduced its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 165,133 shares of the company's stock after selling 6,489 shares during the quarter. Ethic Inc.'s holdings in Novo Nordisk A/S were worth $11,234,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL boosted its position in Novo Nordisk A/S by 2,727.3% during the 4th 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. Copeland Capital Management LLC lifted its holdings 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 valued at $27,000 after buying an additional 255 shares during the period. North Capital Inc. acquired a new stake in shares of Novo Nordisk A/S in the first quarter valued at $27,000. Park Square Financial Group LLC acquired a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at $29,000. Finally, Stone House Investment Management LLC acquired a new stake in shares of Novo Nordisk A/S in the first quarter valued at $30,000. 11.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NVO shares. HSBC lowered Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price objective for the company. in a report on Thursday, July 31st. BNP Paribas upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a report on Wednesday. BMO Capital Markets restated a "market perform" rating and issued a $64.00 price objective (down previously from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Hsbc Global Res lowered Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Finally, UBS Group lowered Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday, August 5th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $83.75.

Novo Nordisk A/S Stock Up 0.0%

NYSE:NVO opened at $50.92 on Friday. The business's fifty day moving average price is $65.40 and its 200 day moving average price is $70.66. The firm has a market capitalization of $227.35 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 1.75 and a beta of 0.63. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $139.74.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings data 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 firm 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%. On average, sell-side analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

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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