Academy Capital Management Grows Stock Position in Novo Nordisk A/S $NVO

Key Points

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Academy Capital Management lifted its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 138.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 367,574 shares of the company's stock after purchasing an additional 213,453 shares during the period. Novo Nordisk A/S comprises approximately 4.4% of Academy Capital Management's investment portfolio, making the stock its 11th largest holding. Academy Capital Management's holdings in Novo Nordisk A/S were worth $25,524,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of NVO. Copeland Capital Management LLC raised its holdings in shares of 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 buying an additional 255 shares in the last quarter. North Capital Inc. purchased a new position in shares of Novo Nordisk A/S during the 1st quarter valued at about $27,000. Park Square Financial Group LLC purchased a new position in shares of Novo Nordisk A/S during the 4th quarter valued at about $29,000. Stone House Investment Management LLC purchased a new position in shares of Novo Nordisk A/S during the 1st quarter valued at about $30,000. Finally, Transce3nd LLC purchased a new position in shares of Novo Nordisk A/S during the 4th quarter valued at about $33,000. Institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Stock Down 0.9%

Shares of NVO traded down $0.4820 during trading hours on Wednesday, hitting $54.2980. The company had a trading volume of 14,039,234 shares, compared to its average volume of 28,881,536. Novo Nordisk A/S has a 52-week low of $45.05 and a 52-week high of $139.74. The firm has a fifty day moving average price of $64.03 and a 200-day moving average price of $69.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. The stock has a market capitalization of $242.44 billion, a price-to-earnings ratio of 14.92, a P/E/G ratio of 1.88 and a beta of 0.63.

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 for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The business had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. On average, equities research analysts forecast 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 announced a semi-annual dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th will be given a $0.4119 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S's payout ratio is 22.53%.

Analyst Upgrades and Downgrades

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

About Novo Nordisk A/S

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.