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Novo Nordisk A/S (NYSE:NVO) Shares Bought by Aigen Investment Management LP

Novo Nordisk A/S logo with Medical background

Key Points

  • Aigen Investment Management LP increased its holdings in Novo Nordisk A/S by 302.6% in Q1, owning 34,284 shares worth approximately $2.38 million after acquiring an additional 25,769 shares.
  • Novo Nordisk A/S reported a quarterly earnings per share (EPS) of $0.97, beating the consensus estimate of $0.93, with total revenue of $11.69 billion during the quarter.
  • The company has declared a semi-annual dividend of $0.4119, with a yield of 240% and a payout ratio of 45.05%, set to be paid on August 26th.
  • Need Better Tools to Track Novo Nordisk A/S? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Aigen Investment Management LP grew its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 302.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,284 shares of the company's stock after purchasing an additional 25,769 shares during the period. Aigen Investment Management LP's holdings in Novo Nordisk A/S were worth $2,381,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. North Star Investment Management Corp. boosted its position in shares of Novo Nordisk A/S by 18.2% in the first quarter. North Star Investment Management Corp. now owns 20,742 shares of the company's stock worth $1,440,000 after acquiring an additional 3,200 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Novo Nordisk A/S by 6.0% in the first quarter. Bank of New York Mellon Corp now owns 839,802 shares of the company's stock worth $58,316,000 after acquiring an additional 47,804 shares during the last quarter. Stanley Laman Group Ltd. acquired a new stake in shares of Novo Nordisk A/S in the first quarter worth approximately $390,000. Dover Advisors LLC purchased a new position in Novo Nordisk A/S in the first quarter valued at approximately $505,000. Finally, GAMMA Investing LLC raised its holdings in Novo Nordisk A/S by 9.6% in the first quarter. GAMMA Investing LLC now owns 9,466 shares of the company's stock valued at $657,000 after buying an additional 827 shares during the period. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Up 4.7%

Shares of NYSE:NVO traded up $2.30 during midday trading on Friday, reaching $51.06. The company had a trading volume of 23,312,357 shares, compared to its average volume of 24,770,900. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The stock's fifty day moving average price is $67.14 and its 200-day moving average price is $71.47. The stock has a market capitalization of $227.98 billion, a P/E ratio of 14.03, a PEG ratio of 1.75 and a beta of 0.63. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $139.74.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. Equities research analysts expect 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. Shareholders of record on Monday, August 18th will be paid 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 payout ratio is presently 45.05%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NVO shares. BMO Capital Markets restated a "market perform" rating and issued a $64.00 price target (down previously from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Wall Street Zen lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Hsbc Global Res lowered shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Dbs Bank lowered shares of Novo Nordisk A/S to a "sell" rating in a research note on Friday, April 25th. Finally, HSBC lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price objective on the stock. in a research note on Thursday, July 31st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Novo Nordisk A/S presently has an average rating of "Hold" and a consensus target price of $93.67.

Read Our Latest Research Report on NVO

Novo Nordisk A/S Profile

(Free Report)

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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Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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