Novo Nordisk A/S (NYSE:NVO) Shares Sold by Northern Trust Corp

Northern Trust Corp cut its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 2.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,285,269 shares of the company’s stock after selling 45,579 shares during the period. Northern Trust Corp owned approximately 0.09% of Novo Nordisk A/S worth $116,641,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in NVO. Renaissance Technologies LLC lifted its position in Novo Nordisk A/S by 5.5% during the 2nd quarter. Renaissance Technologies LLC now owns 22,521,916 shares of the company’s stock worth $1,149,519,000 after acquiring an additional 1,177,000 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in Novo Nordisk A/S during the 1st quarter worth approximately $49,039,000. Jennison Associates LLC purchased a new stake in Novo Nordisk A/S during the 1st quarter worth approximately $33,951,000. Raymond James & Associates increased its holdings in Novo Nordisk A/S by 83.8% during the 1st quarter. Raymond James & Associates now owns 1,174,105 shares of the company’s stock worth $61,418,000 after purchasing an additional 535,302 shares during the last quarter. Finally, Sphera Funds Management LTD. purchased a new stake in Novo Nordisk A/S during the 1st quarter worth approximately $20,924,000. 7.36% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have issued reports on the company. Zacks Investment Research upgraded Novo Nordisk A/S from a “sell” rating to a “hold” rating and set a $50.00 price objective on the stock in a report on Monday, July 15th. Deutsche Bank downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $52.42 price objective on the stock. in a report on Thursday, June 20th. ValuEngine downgraded Novo Nordisk A/S from a “hold” rating to a “sell” rating in a report on Tuesday. Pareto Securities upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Finally, Barclays upgraded Novo Nordisk A/S from an “underweight” rating to an “equal weight” rating and set a $51.85 price objective on the stock in a report on Tuesday, June 11th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $159.65.

Shares of NYSE NVO traded down $0.16 during trading on Friday, reaching $49.51. The stock had a trading volume of 22,583 shares, compared to its average volume of 1,305,662. Novo Nordisk A/S has a one year low of $41.23 and a one year high of $53.55. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 1.04. The stock has a market cap of $117.45 billion, a PE ratio of 19.63, a P/E/G ratio of 2.11 and a beta of 0.57. The firm’s 50 day moving average price is $50.81 and its two-hundred day moving average price is $49.93.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Friday, August 9th. The company reported $0.61 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.61. Novo Nordisk A/S had a return on equity of 75.16% and a net margin of 32.16%. The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.41 billion. On average, research analysts expect that Novo Nordisk A/S will post 2.45 earnings per share for the current year.

The business also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were given a dividend of $0.318 per share. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is currently 25.40%.

About Novo Nordisk A/S

Novo Nordisk A/S, a healthcare company, engages in the development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral anti-diabetic products, obesity, and other chronic diseases.

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

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