Private Trust Co. NA Trims Stock Holdings in Novo Nordisk A/S $NVO

Key Points

• Private Trust Co. NA reduced its stake in Novo Nordisk A/S by 20%, selling 5,489 shares in the second quarter and maintaining 21,948 shares valued at approximately $1.5 million.
• Recent quarterly earnings reported by Novo Nordisk revealed $0.97 EPS, exceeding analyst expectations of $0.93, with a revenue of $11.69 billion despite expected revenue around $77.51 billion.
• Several analysts upgraded Novo Nordisk from a "hold" rating to a "strong-buy" rating, with an average target price set at $76.00.

Private Trust Co. NA lessened its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 20.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,948 shares of the company's stock after selling 5,489 shares during the quarter. Private Trust Co. NA's holdings in Novo Nordisk A/S were worth $1,515,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Hawaiian Bank increased its holdings in Novo Nordisk A/S by 0.6% in the 1st quarter. First Hawaiian Bank now owns 22,401 shares of the company's stock valued at $1,556,000 after purchasing an additional 142 shares during the last quarter. Anchor Investment Management LLC grew its stake in shares of Novo Nordisk A/S by 1.1% in the first quarter. Anchor Investment Management LLC now owns 13,597 shares of the company's stock valued at $944,000 after buying an additional 150 shares in the last quarter. Xponance Inc. raised its holdings in shares of Novo Nordisk A/S by 5.0% in the 1st quarter. Xponance Inc. now owns 3,314 shares of the company's stock valued at $230,000 after buying an additional 158 shares during the period. Foster Dykema Cabot & Partners LLC lifted its stake in Novo Nordisk A/S by 3.8% during the 1st 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 in the last quarter. Finally, Werba Rubin Papier Wealth Management boosted its holdings in Novo Nordisk A/S by 4.1% during the 2nd quarter. Werba Rubin Papier Wealth Management now owns 4,378 shares of the company's stock valued at $302,000 after acquiring an additional 173 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $54.41 on Friday. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $118.26. 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 has a market capitalization of $242.93 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 2.58 and a beta of 0.68. The business's fifty day moving average price is $56.24 and its 200 day moving average price is $62.75.

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, topping the consensus estimate 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 business had revenue of $11.69 billion during the quarter, compared to analysts' expectations of $77.51 billion. On average, sell-side 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 disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were given a dividend of $0.4119 per share. This represents a dividend yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S's payout ratio is currently 22.53%.

Analysts Set New Price Targets

NVO has been the topic of a number of recent research reports. Hsbc Global Res upgraded shares of Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 1st. Rothschild Redb upgraded shares of Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 16th. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a research note on Tuesday, September 9th. BNP Paribas upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research note on Wednesday, August 13th. Finally, Berenberg Bank raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $76.00.

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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