Aberdeen Group plc Lowers Stake in Novo Nordisk A/S $NVO

Aberdeen Group plc lessened its stake in Novo Nordisk A/S (NYSE:NVO) by 27.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185,515 shares of the company’s stock after selling 70,525 shares during the quarter. Aberdeen Group plc’s holdings in Novo Nordisk A/S were worth $10,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. GF Fund Management CO. LTD. purchased a new stake in Novo Nordisk A/S during the 3rd quarter valued at $6,659,000. Sierra Ocean LLC increased its stake in shares of Novo Nordisk A/S by 11.6% in the third quarter. Sierra Ocean LLC now owns 7,223 shares of the company’s stock worth $401,000 after purchasing an additional 749 shares in the last quarter. MSH Capital Advisors LLC bought a new stake in Novo Nordisk A/S during the third quarter valued at about $856,000. Balboa Wealth Partners lifted its holdings in shares of Novo Nordisk A/S by 1.9% in the third quarter. Balboa Wealth Partners now owns 11,913 shares of the company’s stock worth $661,000 after buying an additional 218 shares in the last quarter. Finally, Carson Advisory Inc. grew its holdings in Novo Nordisk A/S by 170.6% during the 3rd quarter. Carson Advisory Inc. now owns 12,173 shares of the company’s stock valued at $675,000 after buying an additional 7,675 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $48.46 on Friday. Novo Nordisk A/S has a 1-year low of $43.08 and a 1-year high of $93.80. The firm has a market capitalization of $216.38 billion, a price-to-earnings ratio of 13.97 and a beta of 0.67. The company’s 50-day moving average is $53.82 and its two-hundred day moving average is $53.21. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.80 and a quick ratio of 0.57.

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

Novo Nordisk A/S Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently commented on the company. CICC Research started coverage on Novo Nordisk A/S in a research note on Friday, January 9th. They set an “outperform” rating and a $73.50 target price on the stock. Morgan Stanley reaffirmed an “underweight” rating and issued a $42.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, December 3rd. TD Cowen restated a “buy” rating on shares of Novo Nordisk A/S in a report on Tuesday, February 3rd. The Goldman Sachs Group restated a “buy” rating on shares of Novo Nordisk A/S in a report on Thursday, January 22nd. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Novo Nordisk A/S in a research report on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Hold” and an average price target of $56.07.

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.