Unisphere Establishment Sells 118,500 Shares of Novo Nordisk A/S $NVO

Key Points

• Unisphere Establishment sold 118,500 shares of Novo Nordisk A/S, reducing its holdings by 79.8% to a total of 30,000 shares.
• Novo Nordisk A/S reported $0.97 earnings per share for its latest quarter, exceeding estimates, and had a net margin of 35.60%.
• Several hedge funds have recently increased or acquired stakes in Novo Nordisk, demonstrating ongoing investor interest in the company.

Unisphere Establishment cut its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 79.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,000 shares of the company's stock after selling 118,500 shares during the period. Unisphere Establishment's holdings in Novo Nordisk A/S were worth $2,083,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NVO. Copeland Capital Management LLC lifted its position in Novo Nordisk A/S by 184.8% during the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock worth $27,000 after purchasing an additional 255 shares during the period. North Capital Inc. bought a new position in Novo Nordisk A/S in the 1st quarter valued at about $27,000. Park Square Financial Group LLC acquired a new position in shares of Novo Nordisk A/S in the 4th quarter valued at approximately $29,000. Stone House Investment Management LLC bought a new stake in shares of Novo Nordisk A/S during the 1st quarter worth approximately $30,000. Finally, Disciplina Capital Management LLC boosted its position in shares of Novo Nordisk A/S by 162.3% during the 1st quarter. Disciplina Capital Management LLC now owns 480 shares of the company's stock worth $33,000 after acquiring an additional 297 shares in the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NVO has been the subject of several recent analyst reports. TD Cowen cut their target price on Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, August 19th. Dbs Bank raised Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a report on Friday, August 22nd. Wall Street Zen lowered Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. UBS Group cut Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 5th. Finally, BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 price target on the stock in a research note on Wednesday, August 13th. Three research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $81.00.

Novo Nordisk A/S Trading Down 0.2%

Shares of Novo Nordisk A/S stock traded down $0.09 on Tuesday, hitting $56.37. The stock had a trading volume of 11,609,027 shares, compared to its average volume of 18,141,876. The stock has a 50 day moving average of $60.17 and a 200 day moving average of $68.04. The firm has a market capitalization of $251.69 billion, a P/E ratio of 15.49, a PEG ratio of 1.96 and a beta of 0.66. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $138.62. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its 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 analyst estimates of $77.51 billion. Sell-side analysts expect 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 declared a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were given a $0.4119 dividend. This represents a dividend yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S's payout ratio is 22.53%.

About Novo Nordisk A/S

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.