Novo Nordisk A/S (NYSE:NVO) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its position in shares of Novo Nordisk A/S (NYSE:NVO) by 15.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,165,374 shares of the company’s stock after selling 1,620,700 shares during the quarter. Novo Nordisk A/S makes up approximately 2.2% of Renaissance Technologies LLC’s holdings, making the stock its biggest holding. Renaissance Technologies LLC’s holdings in Novo Nordisk A/S were worth $1,308,265,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. GQG Partners LLC increased 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. Capital International Investors increased its position in Novo Nordisk A/S by 22.3% in the 4th 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. Acadian Asset Management LLC increased its position in Novo Nordisk A/S by 1,300.8% in the 1st 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 in the last quarter. Price T Rowe Associates Inc. MD increased its position in Novo Nordisk A/S by 10.6% in the 1st 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. Finally, Norden Group LLC increased its position in Novo Nordisk A/S by 2,456.0% in the 1st quarter. Norden Group LLC now owns 658,856 shares of the company’s stock valued at $84,597,000 after acquiring an additional 633,079 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

NVO has been the topic of several recent research reports. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 19th. The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price on the stock. Argus raised their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, September 9th. Finally, BMO Capital Markets reduced their target price on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $145.17.

Novo Nordisk A/S Stock Up 0.2 %

Shares of NYSE NVO opened at $137.00 on Monday. The stock has a market cap of $614.79 billion, a P/E ratio of 47.24, a P/E/G ratio of 1.48 and a beta of 0.42. The firm has a 50 day moving average price of $134.03 and a 200 day moving average price of $133.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. Novo Nordisk A/S has a 52-week low of $86.96 and a 52-week high of $148.15.

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

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were issued a $0.5126 dividend. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.83%.

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.