119,545 Novo Nordisk A/S $NVO Shares Acquired by Cantor Fitzgerald Investment Advisors L.P.

Key Points

• Cantor Fitzgerald Investment Advisors increased its Novo Nordisk stake by 55.8% in the third quarter, acquiring 119,545 shares for a total holding of 333,620 shares valued at approximately $12.65 million.
• Analyst sentiment remains mixed: five analysts rate the stock Buy, 16 Hold and five Sell, resulting in a consensus rating of Hold and an average price target of $59.44.
• Novo Nordisk reported quarterly revenue of $11.98 billion and earnings of $0.94 per share, while its shares opened at $39.22 and traded within a 12-month range of $35.12 to $64.16. The company also reduced its dividend to $0.5786 per share.

Cantor Fitzgerald Investment Advisors L.P. raised its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 55.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 333,620 shares of the company's stock after buying an additional 119,545 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P.'s holdings in Novo Nordisk A/S were worth $12,648,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in NVO. Scarborough Advisors LLC bought a new position in shares of Novo Nordisk A/S in the first quarter worth approximately $26,000. Continuum Advisory LLC purchased a new position in Novo Nordisk A/S in the 2nd quarter worth approximately $38,000. Markowski Investments purchased a new position in Novo Nordisk A/S in the 2nd quarter worth approximately $43,000. Cassaday & Co Wealth Management LLC purchased a new position in Novo Nordisk A/S in the 1st quarter worth approximately $45,000. Finally, Signature Equity Partners LLC lifted its position in Novo Nordisk A/S by 491.0% in the 1st quarter. Signature Equity Partners LLC now owns 1,572 shares of the company's stock valued at $58,000 after acquiring an additional 1,306 shares in the last quarter. 11.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on NVO shares. Jefferies Financial Group restated a "neutral" rating on shares of Novo Nordisk A/S in a research note on Monday, September 21st. Nordea Equity Research raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Friday, June 19th. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Novo Nordisk A/S in a report on Monday, September 21st. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Novo Nordisk A/S in a research report on Tuesday, September 29th. Finally, Wall Street Zen cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Five research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, Novo Nordisk A/S currently has an average rating of "Hold" and a consensus price target of $59.44.

Novo Nordisk A/S Stock Up 2.9%

NVO stock opened at $39.22 on Friday. The business's 50-day moving average price is $42.87 and its 200-day moving average price is $43.93. The stock has a market cap of $175.14 billion, a P/E ratio of 9.48, a PEG ratio of 1.29 and a beta of 0.76. The company has a quick ratio of 0.66, a current ratio of 0.87 and a debt-to-equity ratio of 0.55. Novo Nordisk A/S has a twelve month low of $35.12 and a twelve month high of $64.16.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $0.94 earnings per share for the quarter. Novo Nordisk A/S had a net margin of 35.36% and a return on equity of 58.61%. The business had revenue of $11.98 billion for the quarter. On average, equities research analysts forecast that Novo Nordisk A/S will post 3.42 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a dividend, which was paid on Tuesday, August 25th. Shareholders of record on Monday, August 17th were issued a $0.5786 dividend. The ex-dividend date was Monday, August 17th. This represents a yield of 258.0%. This is a decrease from Novo Nordisk A/S's previous dividend of $1.2751. Novo Nordisk A/S's payout ratio is presently 20.05%.

Novo Nordisk A/S Profile

Novo Nordisk A/S is a Denmark-based global pharmaceutical company focused on treatments for diabetes, obesity and other serious chronic diseases. Its portfolio includes injectable and oral medicines for diabetes, including insulin products and the GLP-1 therapies Ozempic and Rybelsus, as well as the obesity treatment Wegovy.

The company also develops and markets products for rare blood disorders, including hemophilia, along with growth hormone therapies and hormone replacement treatments.

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