Sunpointe LLC acquired a new position in Novo Nordisk A/S (NYSE:NVO - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 16,202 shares of the company's stock, valued at approximately $1,118,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its stake in shares of Novo Nordisk A/S by 15,919.9% during the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company's stock valued at $72,523,000 after buying an additional 1,038,137 shares during the period. North Star Investment Management Corp. boosted its stake in shares of Novo Nordisk A/S by 18.2% during the 1st quarter. North Star Investment Management Corp. now owns 20,742 shares of the company's stock valued at $1,440,000 after buying an additional 3,200 shares during the period. Rhumbline Advisers boosted its stake in shares of Novo Nordisk A/S by 10.2% during the 1st quarter. Rhumbline Advisers now owns 63,539 shares of the company's stock valued at $4,412,000 after buying an additional 5,898 shares during the period. Martin Capital Partners LLC boosted its stake in shares of Novo Nordisk A/S by 261.5% during the 2nd quarter. Martin Capital Partners LLC now owns 76,448 shares of the company's stock valued at $5,276,000 after buying an additional 55,298 shares during the period. Finally, Cim LLC boosted its stake in shares of Novo Nordisk A/S by 4.0% during the 1st quarter. Cim LLC now owns 220,221 shares of the company's stock valued at $15,292,000 after buying an additional 8,398 shares during the period. Institutional investors and hedge funds own 11.54% of the company's stock.
Novo Nordisk A/S Stock Performance
NYSE NVO opened at $57.19 on Wednesday. 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 firm has a market capitalization of $255.35 billion, a price-to-earnings ratio of 15.71, a P/E/G ratio of 2.11 and a beta of 0.66. The company's fifty day moving average is $57.44 and its two-hundred day moving average is $65.86. Novo Nordisk A/S has a 52-week low of $45.05 and a 52-week high of $135.20.
Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. The company had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. Equities research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.
Novo Nordisk A/S Cuts Dividend
The firm also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were given a dividend of $0.4119 per share. This represents a dividend yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S's payout ratio is 22.53%.
Analysts Set New Price Targets
NVO has been the subject of a number of research reports. BNP Paribas raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research note on Wednesday, August 13th. Zacks Research lowered shares of Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 20th. Hsbc Global Res downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Rothschild & Co Redburn upgraded shares of Novo Nordisk A/S from a "neutral" rating to a "buy" rating in a report on Tuesday. Finally, UBS Group downgraded shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of "Hold" and an average price target of $81.00.
Read Our Latest Research Report on Novo Nordisk A/S
Novo Nordisk A/S Profile
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Free Report)
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.
Further Reading
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