Senator Investment Group LP Sells 5,000 Shares of Novo Nordisk A/S (NYSE:NVO)

Senator Investment Group LP reduced its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 3.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,000 shares of the company’s stock after selling 5,000 shares during the quarter. Senator Investment Group LP’s holdings in Novo Nordisk A/S were worth $20,697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. First PREMIER Bank purchased a new stake in shares of Novo Nordisk A/S in the first quarter worth about $25,000. 1620 Investment Advisors Inc. purchased a new position in shares of Novo Nordisk A/S in the second quarter valued at $25,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in Novo Nordisk A/S in the first quarter worth $26,000. Orion Capital Management LLC purchased a new stake in Novo Nordisk A/S during the first quarter valued at $26,000. Finally, Gilliland Jeter Wealth Management LLC lifted its position in Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after purchasing an additional 120 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NVO. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 18th. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, September 16th. BMO Capital Markets dropped their price objective on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Argus increased 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. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $145.17.

Novo Nordisk A/S Trading Down 2.8 %

Shares of NYSE:NVO opened at $120.76 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The firm has a market capitalization of $541.91 billion, a P/E ratio of 41.64, a P/E/G ratio of 1.35 and a beta of 0.42. The business’s 50-day moving average is $131.97 and its 200 day moving average is $132.98. Novo Nordisk A/S has a 1 year low of $86.96 and a 1 year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (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 analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. On average, research analysts predict 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 announced a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were given a dividend of $0.5126 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio is presently 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.