Novo Nordisk A/S $NVO Shares Sold by TIAA Trust National Association

TIAA Trust National Association trimmed its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 95.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,141 shares of the company’s stock after selling 216,234 shares during the period. TIAA Trust National Association’s holdings in Novo Nordisk A/S were worth $618,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Beacon Financial Group boosted its position in Novo Nordisk A/S by 4.3% during the third quarter. Beacon Financial Group now owns 4,307 shares of the company’s stock worth $239,000 after acquiring an additional 178 shares during the last quarter. Kavar Capital Partners Group LLC increased its position in Novo Nordisk A/S by 0.6% during the third quarter. Kavar Capital Partners Group LLC now owns 32,631 shares of the company’s stock worth $1,811,000 after purchasing an additional 200 shares during the last quarter. SeaBridge Investment Advisors LLC raised its stake in Novo Nordisk A/S by 5.7% during the third quarter. SeaBridge Investment Advisors LLC now owns 3,735 shares of the company’s stock worth $207,000 after purchasing an additional 200 shares during the period. Joel Isaacson & Co. LLC boosted its holdings in Novo Nordisk A/S by 1.0% in the 3rd quarter. Joel Isaacson & Co. LLC now owns 21,084 shares of the company’s stock valued at $1,170,000 after purchasing an additional 200 shares during the last quarter. Finally, Revolve Wealth Partners LLC grew its stake in shares of Novo Nordisk A/S by 8.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock valued at $214,000 after buying an additional 200 shares during the period. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $37.50 on Monday. The stock has a market capitalization of $167.42 billion, a price-to-earnings ratio of 10.81 and a beta of 0.74. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.80 and a quick ratio of 0.57. The business has a 50-day moving average of $52.75 and a 200 day moving average of $52.88. Novo Nordisk A/S has a 12 month low of $37.31 and a 12 month high of $91.90.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. Novo Nordisk A/S had a net margin of 33.03% and a return on equity of 68.91%. The company had revenue of $12.43 billion for the quarter, compared to analyst estimates of $11.97 billion. As a group, sell-side analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Dividend Announcement

The business also recently announced a dividend, which will be paid on Wednesday, April 8th. Investors of record on Monday, March 30th will be issued a $1.2751 dividend. The ex-dividend date is Monday, March 30th. This represents a yield of 541.0%. Novo Nordisk A/S’s dividend payout ratio (DPR) is 23.63%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Nordea Equity Research lowered shares of Novo Nordisk A/S to a “hold” rating in a research report on Tuesday, February 24th. Jefferies Financial Group upgraded Novo Nordisk A/S from an “underperform” rating to a “hold” rating in a research report on Thursday, February 12th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $41.00 price target (down from $63.00) on shares of Novo Nordisk A/S in a research note on Monday. Weiss Ratings raised Novo Nordisk A/S from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, February 5th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Novo Nordisk A/S in a research report on Tuesday, February 3rd. Five research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $54.21.

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.