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Townsquare Capital LLC Sells 61,766 Shares of Novo Nordisk A/S (NYSE:NVO)

Novo Nordisk A/S logo with Medical background

Key Points

  • Townsquare Capital LLC reduced its stake in Novo Nordisk A/S by 17.2% in Q1, selling 61,766 shares, leaving them with 298,223 shares valued at approximately $20.7 million.
  • Novo Nordisk reported $0.97 earnings per share for the last quarter, exceeding analyst estimates of $0.93, with a revenue of $11.69 billion.
  • The company's dividend yield is currently 240.0%, with a payout ratio of 45.05%, as they declared a semi-annual dividend of $0.4119 per share.
  • Looking to Export and Analyze Novo Nordisk A/S Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Townsquare Capital LLC cut its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 17.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 298,223 shares of the company's stock after selling 61,766 shares during the quarter. Townsquare Capital LLC's holdings in Novo Nordisk A/S were worth $20,709,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in NVO. BIP Wealth LLC raised its stake in shares of 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 acquiring an additional 138 shares during the last quarter. Xponance Inc. raised its position in Novo Nordisk A/S by 5.0% during the 1st quarter. Xponance Inc. now owns 3,314 shares of the company's stock worth $230,000 after purchasing an additional 158 shares during the last quarter. Foster Dykema Cabot & Partners LLC raised its position 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 purchasing an additional 166 shares during the last quarter. 180 Wealth Advisors LLC lifted its holdings in Novo Nordisk A/S by 3.6% during the 1st quarter. 180 Wealth Advisors LLC now owns 5,014 shares of the company's stock worth $348,000 after buying an additional 173 shares during the period. Finally, LRI Investments LLC grew its position in shares of Novo Nordisk A/S by 1.4% in the 4th quarter. LRI Investments LLC now owns 13,060 shares of the company's stock valued at $1,123,000 after buying an additional 176 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $48.76 on Friday. The stock has a 50 day moving average of $67.55 and a 200 day moving average of $71.81. The company has a market capitalization of $217.73 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 1.37 and a beta of 0.63. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $139.74. The company has a current ratio of 0.74, a quick ratio of 0.56 and a debt-to-equity ratio of 0.70.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued 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 for the quarter, compared to the consensus estimate of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 84.92%. As a group, sell-side analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current 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 paid a dividend of $0.4119 per share. The ex-dividend date is Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S's dividend payout ratio (DPR) is presently 45.05%.

Wall Street Analyst Weigh In

NVO has been the subject of a number of analyst reports. BMO Capital Markets restated a "market perform" rating and set a $64.00 price objective (down from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Hsbc Global Res lowered shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. UBS Group downgraded shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research report on Tuesday. Barclays reiterated an "equal weight" rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Finally, BNP Paribas began coverage on shares of Novo Nordisk A/S in a report on Tuesday, April 15th. They issued an "underperform" rating on the stock. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $93.67.

Read Our Latest Report on NVO

Novo Nordisk A/S Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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