Legacy Capital Group California Inc. Sells 6,999 Shares of Novo Nordisk A/S (NYSE:NVO)

Legacy Capital Group California Inc. lessened its position in shares of Novo Nordisk A/S (NYSE:NVO) by 47.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,610 shares of the company’s stock after selling 6,999 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Novo Nordisk A/S were worth $906,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. GQG Partners LLC grew its stake in shares of Novo Nordisk A/S by 654.6% during the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after acquiring an additional 3,151,584 shares during the period. International Assets Investment Management LLC boosted its holdings in Novo Nordisk A/S by 10,608.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after buying an additional 1,796,635 shares during the period. DSM Capital Partners LLC increased its stake in Novo Nordisk A/S by 257,816.0% in the 2nd quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after buying an additional 1,593,303 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Novo Nordisk A/S by 1,300.8% during the first quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock valued at $159,703,000 after acquiring an additional 1,155,313 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Novo Nordisk A/S by 10.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock valued at $1,102,857,000 after acquiring an additional 823,036 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NVO. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Thursday, October 10th. Finally, BMO Capital Markets dropped their price objective on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $144.50.

Novo Nordisk A/S Price Performance

NVO opened at $113.94 on Friday. The business has a fifty day moving average of $127.52 and a 200 day moving average of $131.50. The stock has a market cap of $511.31 billion, a P/E ratio of 39.02, a PEG ratio of 1.52 and a beta of 0.42. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a 52-week low of $92.94 and a 52-week high of $148.15.

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

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were issued a $0.5126 dividend. The ex-dividend date was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s 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.