9,069 Shares in Novo Nordisk A/S $NVO Purchased by WealthTrust Axiom LLC

Key Points

• WealthTrust Axiom LLC acquired 9,069 shares of Novo Nordisk A/S, valued at approximately $630,000, during Q1, indicating growing institutional interest in the company.
• Novo Nordisk's stock was up 2.6% and reported strong earnings, with an EPS of $0.97, exceeding analysts' estimates by $0.04.
• The company announced a semi-annual dividend of $0.4119 per share, with a dividend payout ratio of 22.53%, reflecting its commitment to returning value to shareholders.

WealthTrust Axiom LLC acquired a new position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,069 shares of the company's stock, valued at approximately $630,000.

A number of other institutional investors and hedge funds have also made changes to their positions in NVO. BIP Wealth LLC lifted its position in shares of Novo Nordisk A/S by 3.9% during the 4th quarter. BIP Wealth LLC now owns 3,642 shares of the company's stock worth $313,000 after purchasing an additional 138 shares during the last quarter. Xponance Inc. grew its position in Novo Nordisk A/S by 5.0% in the 1st quarter. Xponance Inc. now owns 3,314 shares of the company's stock valued at $230,000 after buying an additional 158 shares during the last quarter. Foster Dykema Cabot & Partners LLC increased its stake in shares of Novo Nordisk A/S by 3.8% during the first quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company's stock worth $319,000 after acquiring an additional 166 shares during the period. 180 Wealth Advisors LLC boosted its stake in shares of Novo Nordisk A/S by 3.6% in the first quarter. 180 Wealth Advisors LLC now owns 5,014 shares of the company's stock valued at $348,000 after buying an additional 173 shares in the last quarter. Finally, LRI Investments LLC grew its stake in shares of Novo Nordisk A/S by 1.4% during the 4th quarter. LRI Investments LLC now owns 13,060 shares of the company's stock worth $1,123,000 after purchasing an additional 176 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Up 2.6%

Shares of NVO opened at $56.8910 on Monday. The business's fifty day moving average price is $62.57 and its two-hundred day moving average price is $69.21. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $139.74. The firm has a market capitalization of $254.02 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 1.98 and a beta of 0.63.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping 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%. On average, analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be given a dividend of $0.4119 per share. The ex-dividend date is Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S's dividend payout ratio (DPR) is currently 22.53%.

Analyst Ratings Changes

A number of equities analysts have issued reports on NVO shares. TD Cowen cut their target price on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, August 19th. Zacks Research cut Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 20th. BNP Paribas Exane raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 price objective for the company in a research report on Wednesday, August 13th. BNP Paribas upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research report on Wednesday, August 13th. Finally, Hsbc Global Res lowered shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Three investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $81.00.

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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