WCM Investment Management LLC Sells 1,501,152 Shares of Novo Nordisk A/S $NVO

Key Points

• WCM Investment Management LLC has reduced its holdings in Novo Nordisk A/S by 36.3%, selling 1,501,152 shares and retaining a total of 2,634,705 shares valued at approximately $180 million.
• Novo Nordisk A/S recently reported quarterly earnings of $0.97 EPS, exceeding analyst expectations of $0.93, and had a net margin of 35.60%.
• Analysts have a consensus rating of "Moderate Buy" for Novo Nordisk A/S, with an average price target of $76.00, indicating ongoing positive investor sentiment.

WCM Investment Management LLC cut its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 36.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,634,705 shares of the company's stock after selling 1,501,152 shares during the quarter. WCM Investment Management LLC owned about 0.06% of Novo Nordisk A/S worth $180,504,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Turtle Creek Wealth Advisors LLC boosted its stake in Novo Nordisk A/S by 16.9% in the second quarter. Turtle Creek Wealth Advisors LLC now owns 12,307 shares of the company's stock valued at $849,000 after acquiring an additional 1,775 shares during the last quarter. Alta Capital Management LLC raised its holdings in Novo Nordisk A/S by 6.6% in the second quarter. Alta Capital Management LLC now owns 307,717 shares of the company's stock worth $21,239,000 after purchasing an additional 19,130 shares during the period. Mutual Advisors LLC raised its holdings in Novo Nordisk A/S by 19.7% in the second quarter. Mutual Advisors LLC now owns 45,318 shares of the company's stock worth $3,249,000 after purchasing an additional 7,469 shares during the period. Essex LLC raised its holdings in Novo Nordisk A/S by 14.1% in the second quarter. Essex LLC now owns 5,194 shares of the company's stock worth $358,000 after purchasing an additional 643 shares during the period. Finally, Cypress Wealth Services LLC acquired a new stake in Novo Nordisk A/S in the second quarter worth $213,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Up 0.1%

Shares of NVO stock opened at $56.72 on Thursday. The firm's fifty day moving average price is $56.03 and its two-hundred day moving average price is $62.94. 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 has a 1 year low of $45.05 and a 1 year high of $119.07. The firm has a market capitalization of $253.23 billion, a P/E ratio of 15.58, a PEG ratio of 2.60 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $77.51 billion. On average, equities 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 was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were given a dividend of $0.4119 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S's payout ratio is 22.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. HSBC set a $70.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, October 1st. Berenberg Bank upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Wednesday, September 17th. Hsbc Global Res upgraded shares of Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 1st. Barclays reiterated an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Finally, Dbs Bank upgraded shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a report on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $76.00.

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.

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