Russell Investments Group Ltd. Sells 426,323 Shares of Novo Nordisk A/S $NVO

Key Points

• Russell Investments Group Ltd. decreased its stake in Novo Nordisk A/S by 65.5% in the first quarter, reducing its holdings to 224,340 shares valued at $15.58 million.
• Despite the cut from Russell, Nuveen LLC acquired a significant new stake worth $370.27 million, showing continued institutional interest.
• Novo Nordisk recently reported an EPS of $0.97, exceeding analyst expectations, while announcing a semi-annual dividend of $0.4119 per share.

Russell Investments Group Ltd. reduced its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 65.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 224,340 shares of the company's stock after selling 426,323 shares during the quarter. Russell Investments Group Ltd.'s holdings in Novo Nordisk A/S were worth $15,578,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in NVO. Copeland Capital Management LLC boosted its position 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 acquiring an additional 255 shares during the period. North Capital Inc. acquired a new position in Novo Nordisk A/S during the 1st quarter valued at $27,000. Park Square Financial Group LLC bought a new stake in Novo Nordisk A/S in the 4th quarter valued at $29,000. Stone House Investment Management LLC acquired a new stake in Novo Nordisk A/S in the 1st quarter worth $30,000. Finally, Transce3nd LLC bought a new position in shares of Novo Nordisk A/S during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock traded up $0.5430 during mid-day trading on Tuesday, reaching $54.2930. 19,962,272 shares of the stock were exchanged, compared to its average volume of 11,651,001. 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 market cap of $242.42 billion, a price-to-earnings ratio of 14.91, a price-to-earnings-growth ratio of 1.80 and a beta of 0.63. The firm has a 50-day simple moving average of $64.52 and a 200 day simple moving average of $70.02. 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 (NYSE:NVO - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. The firm had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. On average, sell-side analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be issued 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 (DPR) is currently 45.05%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NVO shares. Wall Street Zen cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. TD Cowen cut their price target on Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday. Barclays reissued an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. BNP Paribas upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research note on Wednesday, August 13th. Finally, Hsbc Global Res cut Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Three investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Novo Nordisk A/S currently has an average rating of "Hold" and a consensus target price of $81.00.

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.