Novo Nordisk A/S $NVO Shares Sold by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. lessened its position in shares of Novo Nordisk A/S (NYSE:NVO) by 16.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 52,500 shares of the company’s stock after selling 10,500 shares during the quarter. Novo Nordisk A/S comprises about 0.8% of Hussman Strategic Advisors Inc.’s holdings, making the stock its 28th largest position. Hussman Strategic Advisors Inc.’s holdings in Novo Nordisk A/S were worth $3,624,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in NVO. Kingstone Capital Partners Texas LLC increased its stake in Novo Nordisk A/S by 301,443.6% during the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock worth $690,560,000 after acquiring an additional 10,001,898 shares during the last quarter. Nuveen LLC purchased a new position in shares of Novo Nordisk A/S during the 1st quarter worth $370,272,000. Amundi increased its position in shares of Novo Nordisk A/S by 49.1% during the 1st quarter. Amundi now owns 4,938,507 shares of the company’s stock worth $331,576,000 after purchasing an additional 1,627,051 shares during the last quarter. Bank of Montreal Can increased its position in shares of Novo Nordisk A/S by 101.4% during the 2nd quarter. Bank of Montreal Can now owns 2,475,300 shares of the company’s stock worth $170,845,000 after purchasing an additional 1,246,467 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Novo Nordisk A/S by 15,919.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock valued at $72,523,000 after buying an additional 1,038,137 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NVO. Hsbc Global Res raised shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Morgan Stanley downgraded shares of Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and reduced their price target for the company from $59.00 to $47.00 in a research note on Monday, September 29th. BNP Paribas Exane raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price objective for the company in a research report on Wednesday, August 13th. Barclays reiterated an “equal weight” rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Finally, Rothschild Redb upgraded Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $76.00.

Novo Nordisk A/S Stock Down 0.7%

Shares of NVO opened at $49.11 on Tuesday. The company’s 50-day simple moving average is $56.03 and its 200-day simple moving average is $61.85. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $112.52. The stock has a market capitalization of $219.26 billion, a PE ratio of 13.49, a P/E/G ratio of 2.33 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The firm had revenue of $11.69 billion during the quarter, compared to analysts’ expectations of $77.51 billion. Analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

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.