Novo Nordisk A/S $NVO Shares Bought by Aberdeen Group plc

Aberdeen Group plc grew its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 7.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 280,734 shares of the company's stock after buying an additional 20,565 shares during the quarter. Aberdeen Group plc's holdings in Novo Nordisk A/S were worth $19,494,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Nuveen LLC purchased a new stake in Novo Nordisk A/S in the 1st quarter worth about $370,272,000. Nuveen Asset Management LLC grew its stake in Novo Nordisk A/S by 73.2% in the 4th quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company's stock worth $537,189,000 after acquiring an additional 2,639,693 shares in the last quarter. Two Sigma Investments LP bought a new position in Novo Nordisk A/S in the 4th quarter worth about $158,657,000. Bank of America Corp DE grew its stake in Novo Nordisk A/S by 8.1% in the 4th quarter. Bank of America Corp DE now owns 15,492,384 shares of the company's stock worth $1,332,655,000 after acquiring an additional 1,165,955 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Novo Nordisk A/S by 26.8% in the 4th quarter. Northern Trust Corp now owns 4,689,098 shares of the company's stock worth $403,356,000 after acquiring an additional 991,022 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO traded down $0.4890 during midday trading on Wednesday, reaching $54.2910. The company had a trading volume of 10,931,930 shares, compared to its average volume of 11,687,624. The business's 50-day simple moving average is $64.03 and its 200 day simple moving average is $69.92. The stock has a market cap of $242.41 billion, a P/E ratio of 14.93, a P/E/G ratio of 1.84 and a beta of 0.63. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $139.74. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its 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. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The firm had revenue of $11.69 billion during the quarter, compared to analysts' expectations of $77.51 billion. On average, analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal 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 issued a dividend of $0.4119 per share. This represents a dividend yield of 240.0%. The ex-dividend date of this dividend is Monday, August 18th. Novo Nordisk A/S's dividend payout ratio (DPR) is 22.53%.

Analysts Set New Price Targets

NVO has been the topic of a number of recent research reports. 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. Wall Street Zen downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Dbs Bank downgraded shares of Novo Nordisk A/S to a "sell" rating in a research note on Friday, April 25th. Hsbc Global Res downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Finally, Barclays reiterated an "equal weight" rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Novo Nordisk A/S currently has an average rating of "Hold" and an average 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.