Bridger Management LLC Purchases Shares of 121,600 Novo Nordisk A/S $NVO

Key Points

• Bridger Management LLC purchased 121,600 shares of Novo Nordisk A/S valued at approximately $8.4 million, making it the 10th largest position in their portfolio.
• Several institutional investors, including Banque Transatlantique SA and AQR Capital Management LLC, significantly increased their stakes in Novo Nordisk during the 1st quarter.
• Analyst ratings for Novo Nordisk are mixed, with three analysts rating it as a "Buy," twelve as "Hold," and one as "Sell," indicating a cautious market outlook.

Bridger Management LLC bought a new position in Novo Nordisk A/S (NYSE:NVO - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 121,600 shares of the company's stock, valued at approximately $8,444,000. Novo Nordisk A/S accounts for about 4.2% of Bridger Management LLC's investment portfolio, making the stock its 10th largest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Park Square Financial Group LLC bought a new position in shares of Novo Nordisk A/S during the 4th quarter worth $29,000. North Capital Inc. bought a new position in shares of Novo Nordisk A/S during the 1st quarter worth $27,000. Copeland Capital Management LLC grew its position in shares of Novo Nordisk A/S by 184.8% during the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock worth $27,000 after buying an additional 255 shares in the last quarter. Stone House Investment Management LLC bought a new position in shares of Novo Nordisk A/S during the 1st quarter worth $30,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of Novo Nordisk A/S during the 4th quarter worth $40,000. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Stock Down 1.8%

NYSE NVO traded down $0.99 during trading on Friday, hitting $55.15. The company's stock had a trading volume of 15,486,058 shares, compared to its average volume of 14,631,845. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The company has a market cap of $246.23 billion, a PE ratio of 15.15, a P/E/G ratio of 1.95 and a beta of 0.66. The business's 50 day simple moving average is $59.46 and its 200-day simple moving average is $67.62. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $138.22.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The business had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. On average, equities analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were issued a dividend of $0.4119 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S's payout ratio is 22.53%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NVO. Wall Street Zen downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. UBS Group downgraded shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research note on Tuesday, August 5th. Zacks Research downgraded Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 20th. Barclays reaffirmed an "equal weight" rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Finally, Dbs Bank raised Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research report on Friday, August 22nd. Three analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $81.00.

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.