Generate Investment Management Ltd Sells 108,401 Shares of Novo Nordisk A/S (NYSE:NVO)

Generate Investment Management Ltd decreased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 73.1% during the third quarter, HoldingsChannel.com reports. The fund owned 39,962 shares of the company’s stock after selling 108,401 shares during the period. Generate Investment Management Ltd’s holdings in Novo Nordisk A/S were worth $4,758,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Folketrygdfondet grew its holdings in Novo Nordisk A/S by 1.4% during the first quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock valued at $1,124,275,000 after purchasing an additional 124,770 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Novo Nordisk A/S by 10.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock valued at $1,102,857,000 after buying an additional 823,036 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Novo Nordisk A/S by 1.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock worth $607,242,000 after acquiring an additional 58,935 shares during the period. GQG Partners LLC lifted its position in Novo Nordisk A/S by 654.6% during the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after acquiring an additional 3,151,584 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its holdings in Novo Nordisk A/S by 7.8% during the first quarter. 1832 Asset Management L.P. now owns 2,373,029 shares of the company’s stock valued at $304,697,000 after acquiring an additional 172,003 shares during the period. 11.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NVO has been the topic of a number of recent analyst reports. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. Finally, BMO Capital Markets reduced their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average target price of $144.50.

Novo Nordisk A/S Trading Down 0.1 %

Shares of NVO opened at $118.13 on Friday. The stock’s 50-day moving average price is $128.48 and its 200 day moving average price is $131.65. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $530.11 billion, a price-to-earnings ratio of 40.46, a P/E/G ratio of 1.56 and a beta of 0.42. Novo Nordisk A/S has a 12-month low of $92.94 and a 12-month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. As a group, research analysts predict that Novo Nordisk A/S will post 3.01 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were paid a $0.5126 dividend. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is 24.66%.

Novo Nordisk A/S Company 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.