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

Strive Financial Group LLC cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 74.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,335 shares of the company’s stock after selling 21,019 shares during the period. Strive Financial Group LLC’s holdings in Novo Nordisk A/S were worth $352,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on NVO shares. Nordea Equity Research upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Friday, June 19th. Citigroup reiterated a “neutral” rating on shares of Novo Nordisk A/S in a research note on Monday, July 20th. Deutsche Bank Aktiengesellschaft cut shares of Novo Nordisk A/S from a “hold” rating to a “sell” rating in a research report on Thursday, August 27th. Weiss Ratings raised Novo Nordisk A/S from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 5th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $47.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $64.94.

Novo Nordisk A/S Stock Down 1.9%

NVO opened at $46.59 on Friday. Novo Nordisk A/S has a 52 week low of $35.12 and a 52 week high of $64.16. The business has a 50 day moving average price of $47.93 and a two-hundred day moving average price of $43.79. The company has a quick ratio of 0.56, a current ratio of 0.79 and a debt-to-equity ratio of 0.59. The company has a market cap 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 (NYSE:NVO) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $0.94 earnings per share for the quarter. The firm had revenue of $11.98 billion during the quarter. Novo Nordisk A/S had a return on equity of 61.20% and a net margin of 35.36%. As a group, research analysts anticipate that Novo Nordisk A/S will post 3.45 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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

Novo Nordisk A/S 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.