William Blair Investment Management LLC Cuts Holdings in Novo Nordisk A/S (NYSE:NVO)

William Blair Investment Management LLC trimmed its position in Novo Nordisk A/S (NYSE:NVO) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,943 shares of the company’s stock after selling 480 shares during the period. William Blair Investment Management LLC’s holdings in Novo Nordisk A/S were worth $7,557,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in Novo Nordisk A/S by 38.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock valued at $9,781,000 after acquiring an additional 26,067 shares in the last quarter. Bank of New Hampshire boosted its stake in Novo Nordisk A/S by 1,356.8% in the first quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock valued at $1,702,000 after acquiring an additional 12,347 shares in the last quarter. Cim LLC acquired a new stake in Novo Nordisk A/S in the fourth quarter valued at approximately $23,547,000. Burford Brothers Inc. acquired a new stake in Novo Nordisk A/S in the fourth quarter valued at approximately $1,045,000. Finally, Mark Asset Management LP acquired a new stake in Novo Nordisk A/S in the fourth quarter valued at approximately $1,035,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Trading Down 0.1 %

NYSE NVO opened at $136.90 on Tuesday. The company has a market capitalization of $614.34 billion, a PE ratio of 47.21, a P/E/G ratio of 1.48 and a beta of 0.42. The company has a fifty day moving average of $133.90 and a 200 day moving average of $133.14. Novo Nordisk A/S has a 1 year low of $86.96 and a 1 year high of $148.15. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results 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 business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. Research analysts forecast that Novo Nordisk A/S will post 3.11 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were issued a $0.5126 dividend. The ex-dividend date was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s payout ratio is 24.83%.

Analysts Set New Price Targets

NVO has been the subject of several recent analyst reports. BMO Capital Markets lowered their target price on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Argus lifted their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective for the company. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 19th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $145.17.

Novo Nordisk A/S 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.