Thornburg Investment Management Inc. Lowers Stock Position in Novo Nordisk A/S (NYSE:NVO)

Thornburg Investment Management Inc. cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 2.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 740,368 shares of the company’s stock after selling 21,345 shares during the quarter. Novo Nordisk A/S makes up about 1.5% of Thornburg Investment Management Inc.’s holdings, making the stock its 21st biggest holding. Thornburg Investment Management Inc.’s holdings in Novo Nordisk A/S were worth $105,684,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NVO. Folketrygdfondet increased its holdings in shares of Novo Nordisk A/S by 1.4% during the first quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock valued at $1,124,275,000 after acquiring an additional 124,770 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake 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 worth $1,102,857,000 after buying an additional 823,036 shares in the last quarter. Capital International Investors increased its position in shares of Novo Nordisk A/S by 22.3% during the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock valued at $736,121,000 after acquiring an additional 1,297,536 shares in the last quarter. GQG Partners LLC lifted its position in Novo Nordisk A/S by 654.6% in 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 in the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in shares of Novo Nordisk A/S by 7.8% in the 1st quarter. 1832 Asset Management L.P. now owns 2,373,029 shares of the company’s stock worth $304,697,000 after purchasing an additional 172,003 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NVO. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday. Argus increased their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. The Goldman Sachs Group began coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price for the company. BMO Capital Markets lowered their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Monday, August 19th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Price Performance

NYSE NVO opened at $135.17 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The business’s fifty day moving average is $134.18 and its 200 day moving average is $132.75. The company has a market capitalization of $606.58 billion, a PE ratio of 46.61, a price-to-earnings-growth ratio of 1.43 and a beta of 0.42. Novo Nordisk A/S has a fifty-two week low of $86.96 and a fifty-two week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The firm had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. Sell-side analysts predict that Novo Nordisk A/S will post 3.11 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were given 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 24.83%.

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.