Armistice Capital LLC Has $7.50 Million Holdings in Novo Nordisk A/S $NVO

Key Points

• Armistice Capital LLC significantly reduced its stake in Novo Nordisk A/S by 84.8% during the first quarter, now holding shares worth approximately $7.5 million.
• Securities analysts have downgraded Novo Nordisk from "buy" to "hold," with HSBC setting a new price target of $57.00 per share.
• Novo Nordisk A/S reported earnings of $0.97 EPS for the last quarter, surpassing estimates, and had a revenue of $11.69 billion.

Armistice Capital LLC trimmed its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 84.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 108,000 shares of the company's stock after selling 604,000 shares during the quarter. Armistice Capital LLC's holdings in Novo Nordisk A/S were worth $7,500,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new position in Novo Nordisk A/S in the fourth quarter valued at approximately $29,000. North Capital Inc. bought a new position in Novo Nordisk A/S in the first quarter valued at approximately $27,000. Copeland Capital Management LLC increased its stake in Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after acquiring an additional 255 shares during the last quarter. Stone House Investment Management LLC bought a new position in Novo Nordisk A/S in the first quarter valued at approximately $30,000. Finally, Mascagni Wealth Management Inc. bought a new position in Novo Nordisk A/S in the fourth quarter valued at approximately $40,000. 11.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. TD Cowen decreased their price objective on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, August 19th. Barclays reissued an "equal weight" rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. UBS Group cut shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research note on Tuesday, August 5th. 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. Finally, 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 research report on Wednesday, August 13th. Three equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $81.00.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock traded up $0.40 during mid-day trading on Monday, reaching $56.51. The company had a trading volume of 9,104,084 shares, compared to its average volume of 19,176,474. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week 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. The company has a market cap of $252.29 billion, a P/E ratio of 15.52, a P/E/G ratio of 1.96 and a beta of 0.66. The business has a fifty day simple moving average of $60.46 and a 200 day simple moving average of $68.12.

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, beating 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 firm had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. On average, equities research 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 declared a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were issued a dividend of $0.4119 per share. This represents a dividend yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S's payout ratio is 22.53%.

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.