Southpoint Capital Advisors LP Acquires Shares of 400,000 Novo Nordisk A/S $NVO

Key Points

• Southpoint Capital Advisors LP has acquired 400,000 shares of Novo Nordisk A/S valued at approximately $27.8 million during the first quarter.
• Various institutional investors have increased their holdings in Novo Nordisk, with Bank of America growing its stake by 8.1% to own over 15.4 million shares.
• The company recently reported its earnings, achieving $0.97 EPS, exceeding estimates, with a net margin of 35.60% and a revenue of $11.69 billion.

Southpoint Capital Advisors LP purchased a new stake in Novo Nordisk A/S (NYSE:NVO - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 400,000 shares of the company's stock, valued at approximately $27,776,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new position in shares of Novo Nordisk A/S in the fourth quarter valued at about $29,000. North Capital Inc. bought a new stake in Novo Nordisk A/S during the 1st quarter valued at $27,000. Copeland Capital Management LLC increased its stake in Novo Nordisk A/S by 184.8% during the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after purchasing an additional 255 shares in the last quarter. Stone House Investment Management LLC purchased a new position in Novo Nordisk A/S during the 1st quarter worth $30,000. Finally, Mascagni Wealth Management Inc. purchased a new position in Novo Nordisk A/S during the 4th quarter worth $40,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NVO. UBS Group downgraded shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday, August 5th. Hsbc Global Res cut Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Wall Street Zen cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. BNP Paribas Exane upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 price target on the stock in a research report on Wednesday, August 13th. Finally, BNP Paribas upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research report on Wednesday, August 13th. Three research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of "Hold" and a consensus price target of $81.00.

Novo Nordisk A/S Trading Up 0.7%

Shares of NYSE NVO traded up $0.37 during trading hours on Wednesday, hitting $56.75. 9,038,796 shares of the company traded hands, compared to its average volume of 18,141,876. The company's 50 day moving average price is $59.96 and its 200 day moving average price is $67.96. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $138.22. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $253.41 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 1.96 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating 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 return on equity of 78.64% and a net margin of 35.60%. On average, equities research analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share 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. Stockholders of record on Monday, August 18th were issued a $0.4119 dividend. This represents a dividend yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S's payout ratio is presently 22.53%.

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.