Novo Nordisk A/S (NYSE:NVO) Shares Sold by Generate Investment Management Ltd

Generate Investment Management Ltd lessened its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 73.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 39,962 shares of the company’s stock after selling 108,401 shares during the period. Generate Investment Management Ltd’s holdings in Novo Nordisk A/S were worth $4,758,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. First PREMIER Bank acquired a new position in shares of Novo Nordisk A/S in the 1st quarter valued at $25,000. 1620 Investment Advisors Inc. acquired a new position in shares of Novo Nordisk A/S in the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Novo Nordisk A/S in the second quarter worth approximately $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Novo Nordisk A/S during the first quarter valued at approximately $26,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at approximately $26,000. 11.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NVO shares. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. BMO Capital Markets dropped their price target on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average price target of $144.50.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $118.13 on Friday. The firm has a market cap of $530.11 billion, a price-to-earnings ratio of 40.46, a P/E/G ratio of 1.56 and a beta of 0.42. Novo Nordisk A/S has a 1 year low of $92.94 and a 1 year high of $148.15. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $128.48 and a 200 day simple moving average of $131.65.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. As a group, sell-side analysts predict that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were given a $0.5126 dividend. This represents a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is 24.66%.

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.