Price T Rowe Associates Inc. MD Has $369.75 Million Stock Holdings in Novo Nordisk A/S $NVO

Key Points

• Price T Rowe Associates Inc. MD reduced its holdings in Novo Nordisk A/S by 16.1%, now owning 5,324,666 shares valued at approximately $369.75 million.
• Analyst ratings for Novo Nordisk A/S have shifted, with three analysts rating it as a Buy, eleven as Hold, and two as Sell, resulting in a consensus rating of "Hold" and an average price target of $81.00.
• Novo Nordisk A/S reported a quarterly EPS of $0.97, exceeding analyst expectations, and announced a semi-annual dividend of $0.4119 per share.

Price T Rowe Associates Inc. MD lessened its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 16.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,324,666 shares of the company's stock after selling 1,020,452 shares during the period. Price T Rowe Associates Inc. MD owned 0.12% of Novo Nordisk A/S worth $369,746,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BIP Wealth LLC grew its holdings in Novo Nordisk A/S by 3.9% during the fourth quarter. BIP Wealth LLC now owns 3,642 shares of the company's stock valued at $313,000 after purchasing an additional 138 shares during the last quarter. Xponance Inc. grew its stake in shares of Novo Nordisk A/S by 5.0% in the first quarter. Xponance Inc. now owns 3,314 shares of the company's stock worth $230,000 after acquiring an additional 158 shares during the last quarter. Foster Dykema Cabot & Partners LLC grew its stake in shares of Novo Nordisk A/S by 3.8% in the first quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company's stock worth $319,000 after acquiring an additional 166 shares during the last quarter. 180 Wealth Advisors LLC grew its stake in shares of Novo Nordisk A/S by 3.6% in the first quarter. 180 Wealth Advisors LLC now owns 5,014 shares of the company's stock worth $348,000 after acquiring an additional 173 shares during the last quarter. Finally, LRI Investments LLC grew its stake in shares of Novo Nordisk A/S by 1.4% in the fourth quarter. LRI Investments LLC now owns 13,060 shares of the company's stock worth $1,123,000 after acquiring an additional 176 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on NVO. Wall Street Zen downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Hsbc Global Res downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. TD Cowen lowered their price objective on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, August 19th. HSBC downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price objective on the stock. in a research note on Thursday, July 31st. Finally, BNP Paribas upgraded shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research note on Wednesday, August 13th. Three research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Novo Nordisk A/S currently has a consensus rating of "Hold" and an average price target of $81.00.

Novo Nordisk A/S Stock Up 2.6%

NVO opened at $56.8910 on Friday. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $139.74. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The firm's fifty day moving average price is $62.57 and its two-hundred day moving average price is $69.33. The company has a market capitalization of $254.02 billion, a P/E ratio of 15.63, a P/E/G ratio of 1.98 and a beta of 0.63.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $77.51 billion. On average, analysts anticipate 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. Shareholders of record on Monday, August 18th will be issued a dividend of $0.4119 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S's dividend payout ratio (DPR) is presently 22.53%.

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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