Strive Financial Group LLC Cuts Position in Novo Nordisk A/S $NVO

Strive Financial Group LLC lowered its holdings in Novo Nordisk A/S (NYSE:NVO) by 74.1% in the second quarter, Holdings Channel.com reports. The fund owned 7,335 shares of the company’s stock after selling 21,019 shares during the quarter. Strive Financial Group LLC’s holdings in Novo Nordisk A/S were worth $352,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Loomis Sayles & Co. L P lifted its stake in shares of Novo Nordisk A/S by 6.0% in the fourth quarter. Loomis Sayles & Co. L P now owns 17,135,384 shares of the company’s stock valued at $871,848,000 after purchasing an additional 969,916 shares during the period. Franklin Resources Inc. grew its position in Novo Nordisk A/S by 5.1% during the fourth quarter. Franklin Resources Inc. now owns 14,702,508 shares of the company’s stock worth $748,064,000 after buying an additional 717,719 shares during the period. Morgan Stanley grew its position in Novo Nordisk A/S by 3.5% during the fourth quarter. Morgan Stanley now owns 12,842,089 shares of the company’s stock worth $653,406,000 after buying an additional 428,660 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Novo Nordisk A/S by 99.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,688,262 shares of the company’s stock valued at $492,940,000 after buying an additional 4,836,285 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at approximately $287,660,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on NVO shares. Nordea Equity Research raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Friday, June 19th. Deutsche Bank Aktiengesellschaft cut Novo Nordisk A/S from a “hold” rating to a “sell” rating in a report on Thursday, August 27th. Berenberg Bank set a $47.00 target price on Novo Nordisk A/S in a research report on Wednesday, August 12th. Zacks Research raised Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $47.00 price target on shares of Novo Nordisk A/S in a research report on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $64.94.

Novo Nordisk A/S Stock Down 1.9%

NVO stock opened at $46.59 on Friday. The company’s 50 day simple moving average is $47.93 and its 200-day simple moving average is $43.79. The firm has a market capitalization of $208.02 billion, a PE ratio of 11.39, a P/E/G ratio of 1.60 and a beta of 0.74. Novo Nordisk A/S has a 12 month low of $35.12 and a 12 month high of $64.16. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.79 and a quick ratio of 0.56.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Tuesday, June 30th. The company reported $0.94 earnings per share (EPS) for the quarter. The firm had revenue of $11.98 billion for the quarter. Novo Nordisk A/S had a return on equity of 61.20% and a net margin of 35.36%. Equities analysts expect that Novo Nordisk A/S will post 3.45 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, August 25th. Stockholders of record on Monday, August 17th were given a $0.5786 dividend. This represents a dividend yield of 258.0%. The ex-dividend date was Monday, August 17th. Novo Nordisk A/S’s dividend payout ratio is currently 20.05%.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.