World Investment Advisors Lowers Stock Holdings in Novo Nordisk A/S $NVO

World Investment Advisors trimmed its stake in Novo Nordisk A/S (NYSE:NVO) by 8.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,474 shares of the company’s stock after selling 1,624 shares during the period. World Investment Advisors’ holdings in Novo Nordisk A/S were worth $1,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Mayflower Financial Advisors LLC boosted its position in Novo Nordisk A/S by 46.9% in the 2nd quarter. Mayflower Financial Advisors LLC now owns 7,454 shares of the company’s stock valued at $514,000 after buying an additional 2,380 shares during the period. Motco boosted its position in Novo Nordisk A/S by 10.4% in the 2nd quarter. Motco now owns 10,665 shares of the company’s stock valued at $736,000 after buying an additional 1,005 shares during the period. Jennison Associates LLC boosted its position in Novo Nordisk A/S by 0.3% in the 2nd quarter. Jennison Associates LLC now owns 18,885,343 shares of the company’s stock valued at $1,303,466,000 after buying an additional 63,341 shares during the period. Markel Group Inc. boosted its position in Novo Nordisk A/S by 5.1% in the 2nd quarter. Markel Group Inc. now owns 2,258,588 shares of the company’s stock valued at $155,888,000 after buying an additional 108,588 shares during the period. Finally, Tevis Investment Management raised its holdings in shares of Novo Nordisk A/S by 164.6% in the 2nd quarter. Tevis Investment Management now owns 39,862 shares of the company’s stock valued at $2,751,000 after purchasing an additional 24,799 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Down 1.3%

NYSE NVO opened at $49.40 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The firm has a market cap of $220.58 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 2.33 and a beta of 0.68. The company has a 50 day moving average price of $56.17 and a 200 day moving average price of $61.94. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $113.02.

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

Novo Nordisk A/S Cuts Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price target for the company in a report on Wednesday, August 13th. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 9th. BMO Capital Markets restated a “market perform” rating and issued a $55.00 price target (up previously from $50.00) on shares of Novo Nordisk A/S in a report on Tuesday, October 14th. UBS Group lowered shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a report on Tuesday, August 5th. Finally, Jefferies Financial Group assumed coverage on shares of Novo Nordisk A/S in a report on Monday, October 27th. They issued an “underperform” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.