Novo Nordisk A/S (NYSE:NVO) Shares Sold by Magnetar Financial LLC

Magnetar Financial LLC decreased its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 40.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 102,492 shares of the company’s stock after selling 68,529 shares during the period. Magnetar Financial LLC’s holdings in Novo Nordisk A/S were worth $14,630,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. First PREMIER Bank acquired a new stake in Novo Nordisk A/S during the first quarter worth about $25,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Novo Nordisk A/S during the 2nd quarter worth approximately $25,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Novo Nordisk A/S in the 1st quarter worth approximately $26,000. Orion Capital Management LLC acquired a new position in Novo Nordisk A/S during the 1st quarter valued at approximately $26,000. Finally, Gilliland Jeter Wealth Management LLC grew its stake in Novo Nordisk A/S by 200.0% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after buying an additional 120 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NVO has been the topic of a number of recent research reports. The Goldman Sachs Group initiated coverage on 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. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, September 16th. Argus lifted their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. BMO Capital Markets decreased their price objective on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Novo Nordisk A/S currently has an average rating of “Buy” and a consensus price target of $145.17.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $127.51 on Monday. The stock has a market cap of $572.21 billion, a price-to-earnings ratio of 43.97, a PEG ratio of 1.48 and a beta of 0.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. Novo Nordisk A/S has a 12 month low of $86.96 and a 12 month high of $148.15. The stock’s 50 day moving average price is $133.13 and its 200 day moving average price is $133.32.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. Equities research analysts anticipate that Novo Nordisk A/S will post 3.11 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 Monday, August 26th. Shareholders of record on Friday, August 16th were issued a $0.5126 dividend. This represents a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s payout ratio is 24.83%.

Novo Nordisk A/S 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.