Novo Nordisk A/S $NVO Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lowered its position in Novo Nordisk A/S (NYSE:NVO) by 6.0% during the second quarter, HoldingsChannel reports. The firm owned 17,213 shares of the company’s stock after selling 1,089 shares during the period. Marks Group Wealth Management Inc’s holdings in Novo Nordisk A/S were worth $1,188,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Kingstone Capital Partners Texas LLC lifted its stake in shares of Novo Nordisk A/S by 301,443.6% in the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock worth $690,560,000 after buying an additional 10,001,898 shares in the last quarter. Folketrygdfondet raised its holdings in Novo Nordisk A/S by 6.9% in the 1st quarter. Folketrygdfondet now owns 9,521,912 shares of the company’s stock valued at $661,202,000 after acquiring an additional 617,974 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Novo Nordisk A/S by 11.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company’s stock worth $395,291,000 after purchasing an additional 576,900 shares in the last quarter. Sustainable Growth Advisers LP boosted its holdings in shares of Novo Nordisk A/S by 3.8% during the 1st quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company’s stock worth $384,923,000 after purchasing an additional 202,443 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Novo Nordisk A/S during the 1st quarter worth approximately $370,272,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Berenberg Bank upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. Morgan Stanley downgraded Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and cut their target price for the stock from $59.00 to $47.00 in a research note on Monday, September 29th. Rothschild & Co Redburn raised shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 16th. Barclays restated an “equal weight” rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Finally, Zacks Research upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.50.

Novo Nordisk A/S Trading Up 0.1%

NYSE NVO opened at $59.67 on Tuesday. The firm’s fifty day moving average price is $54.73 and its 200 day moving average price is $63.51. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $120.56. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The company has a market capitalization of $266.43 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 2.63 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. On average, sell-side analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Novo Nordisk A/S Company 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.