Eagle Asset Management Inc. Cuts Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Eagle Asset Management Inc. trimmed its position in shares of Novo Nordisk A/S (NYSE:NVOGet Rating) by 39.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,927 shares of the company’s stock after selling 3,942 shares during the quarter. Eagle Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Capital International Investors boosted its holdings in shares of Novo Nordisk A/S by 3.3% in the 4th quarter. Capital International Investors now owns 5,653,043 shares of the company’s stock worth $631,330,000 after buying an additional 179,049 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Novo Nordisk A/S by 731.0% in the 1st quarter. Jennison Associates LLC now owns 5,527,477 shares of the company’s stock worth $613,826,000 after buying an additional 4,862,299 shares during the last quarter. WCM Investment Management LLC boosted its holdings in shares of Novo Nordisk A/S by 14.7% in the 1st quarter. WCM Investment Management LLC now owns 2,850,711 shares of the company’s stock worth $316,571,000 after buying an additional 365,146 shares during the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of Novo Nordisk A/S by 3.5% in the 4th quarter. Parametric Portfolio Associates LLC now owns 2,428,890 shares of the company’s stock worth $272,036,000 after buying an additional 82,760 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Novo Nordisk A/S by 13.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,603,633 shares of the company’s stock worth $178,083,000 after buying an additional 186,122 shares during the last quarter. 6.62% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Down 2.2 %

Shares of NVO opened at $102.24 on Friday. The business’s 50-day moving average price is $109.81 and its 200-day moving average price is $109.08. Novo Nordisk A/S has a twelve month low of $91.51 and a twelve month high of $122.16. The stock has a market cap of $231.37 billion, a PE ratio of 30.52, a P/E/G ratio of 1.91 and a beta of 0.44. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.32.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, August 23rd. Stockholders of record on Monday, August 15th were given a dividend of $0.5836 per share. This represents a dividend yield of 1.1%. The ex-dividend date was Friday, August 12th. Novo Nordisk A/S’s dividend payout ratio is presently 24.18%.

Wall Street Analyst Weigh In

NVO has been the topic of a number of research analyst reports. UBS Group downgraded shares of Novo Nordisk A/S from a “neutral” rating to a “sell” rating in a report on Tuesday, June 28th. Morgan Stanley upgraded Novo Nordisk A/S from an “equal weight” rating to an “overweight” rating in a research note on Friday, July 15th. Guggenheim upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 31st. BNP Paribas upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $750.00 price objective on the stock in a research note on Monday, June 27th. Finally, Exane BNP Paribas upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a 750.00 price objective on the stock in a research note on Monday, June 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $682.43.

Novo Nordisk A/S Profile

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Novo Nordisk A/S, a healthcare company, engages in the research, development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes and Obesity care, and Biopharm. The Diabetes and Obesity care segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral antidiabetic products, obesity, and other chronic diseases.

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Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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