AR Asset Management Inc. Takes Position in Novo Nordisk A/S $NVO

Key Points

• AR Asset Management Inc. has acquired a new stake in Novo Nordisk A/S, purchasing 10,500 shares valued at approximately $729,000.
• Recent analyst ratings for Novo Nordisk A/S show a mixed outlook, with one downgrade to "sell" and multiple changes to "hold" and "neutral" ratings, reflecting market uncertainty.
• Novo Nordisk A/S reported earnings of $0.97 EPS for the quarter, exceeding expectations, alongside a proposed dividend of $0.4119 per share to shareholders.

AR Asset Management Inc. purchased a new position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,500 shares of the company's stock, valued at approximately $729,000.

Several other institutional investors have also modified their holdings of the stock. Cresset Asset Management LLC raised its holdings in shares of Novo Nordisk A/S by 5.7% during the 1st quarter. Cresset Asset Management LLC now owns 60,066 shares of the company's stock worth $4,240,000 after acquiring an additional 3,230 shares during the period. Gen Wealth Partners Inc increased its position in shares of Novo Nordisk A/S by 29.6% during the 1st quarter. Gen Wealth Partners Inc now owns 9,717 shares of the company's stock worth $675,000 after purchasing an additional 2,218 shares during the last quarter. Aberdeen Group plc increased its position in shares of Novo Nordisk A/S by 7.9% during the 1st quarter. Aberdeen Group plc now owns 280,734 shares of the company's stock worth $19,494,000 after purchasing an additional 20,565 shares during the last quarter. Horizon Investments LLC increased its position in shares of Novo Nordisk A/S by 117.4% during the 1st quarter. Horizon Investments LLC now owns 5,466 shares of the company's stock worth $380,000 after purchasing an additional 2,952 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Novo Nordisk A/S during the 1st quarter worth about $1,050,000. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Stock Performance

Shares of NVO stock traded down $0.3990 during trading hours on Wednesday, hitting $54.3810. The stock had a trading volume of 8,804,999 shares, compared to its average volume of 11,665,676. The firm has a market capitalization of $242.81 billion, a PE ratio of 14.95, a PEG ratio of 1.84 and a beta of 0.63. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $139.74. The stock's 50 day moving average is $64.03 and its 200 day moving average is $69.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56.

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 for the quarter, topping the consensus estimate of $0.93 by $0.04. The firm had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. As a group, research 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 business also recently disclosed 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. This represents a yield of 240.0%. The ex-dividend date is Monday, August 18th. Novo Nordisk A/S's dividend payout ratio (DPR) is currently 22.53%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Hsbc Global Res downgraded Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Wall Street Zen downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. BNP Paribas raised Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research report on Wednesday, August 13th. Barclays reaffirmed an "equal weight" rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Finally, BNP Paribas Exane raised Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 target price for the company in a research report on Wednesday, August 13th. Three equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price 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.