US Bancorp DE Sells 39,004 Shares of Novo Nordisk A/S $NVO

Key Points

• US Bancorp DE reduced its holdings in Novo Nordisk A/S by 11.5% in Q2, selling 39,004 shares and now owning 299,466 shares valued at approximately $20.67 million.
• Analysts have given mixed ratings for Novo Nordisk, with Morgan Stanley downgrading the stock from "overweight" to "underweight" and lowering the target price from $59 to $47.
• Novo Nordisk has a market capitalization of $254.27 billion, with shares currently trading at $56.95, down 3.0% recently, and a dividend yield of 240% after a recent semi-annual dividend payment.

US Bancorp DE trimmed its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 11.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 299,466 shares of the company's stock after selling 39,004 shares during the period. US Bancorp DE's holdings in Novo Nordisk A/S were worth $20,670,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Unified Investment Management acquired a new stake in shares of Novo Nordisk A/S in the second quarter worth $692,000. Acadian Asset Management LLC lifted its stake in shares of Novo Nordisk A/S by 15,919.9% in the first quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company's stock worth $72,523,000 after buying an additional 1,038,137 shares during the last quarter. Norden Group LLC lifted its stake in shares of Novo Nordisk A/S by 216.3% in the second quarter. Norden Group LLC now owns 96,332 shares of the company's stock worth $6,649,000 after buying an additional 65,877 shares during the last quarter. Guild Investment Management Inc. lifted its stake in shares of Novo Nordisk A/S by 20.7% in the second quarter. Guild Investment Management Inc. now owns 36,995 shares of the company's stock worth $2,553,000 after buying an additional 6,345 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Novo Nordisk A/S by 48.7% in the second quarter. Farther Finance Advisors LLC now owns 103,138 shares of the company's stock worth $7,119,000 after buying an additional 33,794 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on NVO shares. Morgan Stanley lowered Novo Nordisk A/S from an "overweight" rating to an "underweight" rating and lowered their target price for the company from $59.00 to $47.00 in a report on Monday, September 29th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Novo Nordisk A/S in a report on Saturday, September 27th. Hsbc Global Res raised shares of Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 1st. Dbs Bank raised shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a report on Friday, August 22nd. Finally, Barclays reissued an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $77.50.

Novo Nordisk A/S Trading Down 3.0%

Shares of NVO stock opened at $56.95 on Friday. Novo Nordisk A/S has a 52-week low of $45.05 and a 52-week high of $120.56. The stock has a market cap of $254.27 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 2.65 and a beta of 0.68. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. The firm has a fifty day moving average of $55.44 and a 200-day moving average of $63.22.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating 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 company had revenue of $11.69 billion during the quarter, compared to analysts' expectations of $77.51 billion. On average, equities research analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were given a dividend of $0.4119 per share. The ex-dividend date was Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S's dividend payout ratio (DPR) is 22.53%.

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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