Private Wealth Partners LLC Has $3.70 Million Stake in Novo Nordisk A/S $NVO

Private Wealth Partners LLC decreased its stake in Novo Nordisk A/S (NYSE:NVO) by 18.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,593 shares of the company’s stock after selling 12,267 shares during the quarter. Private Wealth Partners LLC’s holdings in Novo Nordisk A/S were worth $3,699,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of NVO. Kingstone Capital Partners Texas LLC boosted its stake in Novo Nordisk A/S by 301,443.6% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock valued at $690,560,000 after buying an additional 10,001,898 shares in the last quarter. Nuveen LLC bought a new position in Novo Nordisk A/S in the 1st quarter valued at $370,272,000. Amundi raised its position in Novo Nordisk A/S by 49.1% in the 1st quarter. Amundi now owns 4,938,507 shares of the company’s stock valued at $331,576,000 after purchasing an additional 1,627,051 shares during the last quarter. Acadian Asset Management LLC raised its position in Novo Nordisk A/S by 15,919.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock valued at $72,523,000 after purchasing an additional 1,038,137 shares during the last quarter. Finally, DAVENPORT & Co LLC raised its position in Novo Nordisk A/S by 61.1% in the 1st quarter. DAVENPORT & Co LLC now owns 1,695,522 shares of the company’s stock valued at $117,682,000 after purchasing an additional 642,810 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 0.1%

NYSE NVO opened at $52.92 on Tuesday. The stock has a 50-day simple moving average of $56.55 and a 200 day simple moving average of $62.29. The company has a market capitalization of $236.27 billion, a PE ratio of 14.54, a P/E/G ratio of 2.41 and a beta of 0.68. 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 12 month low of $45.05 and a 12 month high of $113.76.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The business had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. Research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were paid a $0.4119 dividend. This represents a yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S’s payout ratio is presently 22.53%.

Analysts Set New Price Targets

Several brokerages have issued reports on NVO. Zacks Research upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Wall Street Zen downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Rothschild & Co Redburn upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 16th. UBS Group downgraded Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 5th. Finally, Jefferies Financial Group initiated coverage on Novo Nordisk A/S in a research report on Monday. They set an “underperform” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $76.00.

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.