Nuveen LLC Takes Position in Novo Nordisk A/S (NYSE:NVO)

Nuveen LLC acquired a new stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,332,262 shares of the company's stock, valued at approximately $370,272,000. Nuveen LLC owned about 0.12% of Novo Nordisk A/S at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Bank of America Corp DE grew its stake in shares of Novo Nordisk A/S by 8.1% during the fourth quarter. Bank of America Corp DE now owns 15,492,384 shares of the company's stock valued at $1,332,655,000 after buying an additional 1,165,955 shares during the last quarter. Folketrygdfondet increased 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 valued at $661,202,000 after purchasing an additional 617,974 shares during the period. Nuveen Asset Management LLC increased its holdings in Novo Nordisk A/S by 73.2% during the 4th quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company's stock valued at $537,189,000 after purchasing an additional 2,639,693 shares during the period. Goldman Sachs Group Inc. increased its holdings in 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 valued at $395,291,000 after purchasing an additional 576,900 shares during the period. Finally, Sustainable Growth Advisers LP increased its holdings 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 valued at $384,923,000 after purchasing an additional 202,443 shares during the period. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $51.06 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The business's 50 day moving average price is $67.14 and its 200-day moving average price is $71.47. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $139.74. The stock has a market cap of $227.98 billion, a P/E ratio of 14.03, a P/E/G ratio of 1.75 and a beta of 0.63.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $77.51 billion. Equities research analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NVO. Hsbc Global Res downgraded Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Wall Street Zen downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. HSBC downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 target price on the stock. in a report on Thursday, July 31st. UBS Group downgraded Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday, August 5th. Finally, Barclays reiterated an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $93.67.

Novo Nordisk A/S Company 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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