26,580 Shares in Novo Nordisk A/S $NVO Purchased by Foresight Capital Management Advisors Inc.

Key Points

• Foresight Capital Management Advisors Inc. acquired 26,580 shares of Novo Nordisk A/S, valued at approximately $1.83 million, as indicated in their recent SEC filing.
• Several hedge funds significantly increased their holdings in Novo Nordisk, with Kingstone Capital Partners increasing its stake by 301,443.6% during the 2nd quarter.
• Analyst ratings for Novo Nordisk have varied, with Zacks upgrading the stock to a "hold" and HSBC Global Research upgrading it to a "strong-buy", while UBS downgraded it to "neutral".

Foresight Capital Management Advisors Inc. acquired a new stake in Novo Nordisk A/S (NYSE:NVO - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 26,580 shares of the company's stock, valued at approximately $1,835,000.

Other hedge funds also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC increased its holdings in Novo Nordisk A/S by 301,443.6% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company's stock valued at $690,560,000 after purchasing an additional 10,001,898 shares during the last quarter. Nuveen LLC purchased a new position in shares of Novo Nordisk A/S during the first quarter worth $370,272,000. Amundi grew its stake in shares of Novo Nordisk A/S by 49.1% in the first quarter. Amundi now owns 4,938,507 shares of the company's stock valued at $331,576,000 after buying an additional 1,627,051 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Novo Nordisk A/S by 15,919.9% in the first 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 in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Novo Nordisk A/S by 118.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,594,544 shares of the company's stock valued at $110,725,000 after buying an additional 864,579 shares during the period. Hedge funds and other institutional investors own 11.54% of the company's stock.

Analyst Ratings Changes

NVO has been the subject of several research reports. Zacks Research raised Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research report on Monday, September 29th. Hsbc Global Res upgraded shares of Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 1st. 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. Barclays reissued an "equal weight" rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Novo Nordisk A/S in a research note on Saturday, September 27th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $77.50.

Novo Nordisk A/S Trading Up 0.1%

NYSE NVO opened at $59.67 on Tuesday. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $120.56. The firm has a 50 day moving average of $54.73 and a two-hundred day moving average of $63.51. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $266.43 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 2.63 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. The business 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%. As a group, research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

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.

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