Raymond James Financial Inc. Sells 991,860 Shares of Novo Nordisk A/S $NVO

Key Points

• Raymond James Financial Inc. has reduced its stake in Novo Nordisk A/S by 21.1%, holding approximately $257.99 million worth of shares after selling 991,860 shares in the first quarter.
• The company's stock increased by 2.9%, trading at $52.43, with a market cap of $234.10 billion, but has seen a significant decline from its 12-month high of $139.74.
• Novo Nordisk A/S reported earnings of $0.97 EPS, surpassing analysts' estimates, and announced a semi-annual dividend of $0.4119, reflecting a yield of 240.0%.

Raymond James Financial Inc. lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 21.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 3,715,306 shares of the company's stock after selling 991,860 shares during the quarter. Raymond James Financial Inc. owned about 0.08% of Novo Nordisk A/S worth $257,991,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NVO. Park Square Financial Group LLC acquired a new stake in shares of Novo Nordisk A/S in the 4th quarter worth approximately $29,000. Transce3nd LLC bought a new stake in Novo Nordisk A/S during the fourth quarter worth approximately $33,000. North Capital Inc. acquired a new stake in Novo Nordisk A/S in the first quarter worth approximately $27,000. Copeland Capital Management LLC boosted its stake in Novo Nordisk A/S by 184.8% during the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after purchasing an additional 255 shares in the last quarter. Finally, Stone House Investment Management LLC bought a new position in Novo Nordisk A/S during the 1st quarter valued at $30,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NVO has been the subject of several research analyst reports. Barclays restated an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. TD Cowen cut their price target on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday. Hsbc Global Res lowered shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 target price on the stock in a report on Wednesday, August 13th. Finally, Wall Street Zen cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $81.00.

Novo Nordisk A/S Stock Up 1.8%

NVO traded up $0.9920 during trading on Tuesday, reaching $54.7420. 25,876,045 shares of the stock traded hands, compared to its average volume of 11,692,010. The stock's 50-day simple moving average is $64.52 and its two-hundred day simple moving average is $70.02. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $139.74. The stock has a market cap of $244.42 billion, a price-to-earnings ratio of 15.04, 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 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. 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 return on equity of 78.64% and a net margin of 35.60%. As a group, equities research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th will be given a dividend of $0.4119 per share. 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 presently 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.