Corient IA LLC Acquires Shares of 8,400 Novo Nordisk A/S $NVO

Key Points

• Corient IA LLC acquired a new stake in Novo Nordisk A/S during the first quarter, purchasing 8,400 shares valued at approximately $583,000.
• Novo Nordisk's earnings per share was reported at $0.97, exceeding analysts' expectations of $0.93, with a net margin of 35.60%.
• The company will pay a semi-annual dividend of $0.4119 per share on August 26, reflecting a yield of 240.0% and a dividend payout ratio of 22.53%.

Corient IA LLC purchased a new position in Novo Nordisk A/S (NYSE:NVO - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,400 shares of the company's stock, valued at approximately $583,000.

A number of other large investors have also recently made changes to their positions in NVO. Copeland Capital Management LLC raised its position 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 worth $27,000 after acquiring an additional 255 shares during the period. North Capital Inc. purchased a new stake in shares of Novo Nordisk A/S in the 1st quarter worth $27,000. Park Square Financial Group LLC bought a new position in Novo Nordisk A/S in the 4th quarter worth $29,000. Stone House Investment Management LLC bought a new position in Novo Nordisk A/S in the 1st quarter worth $30,000. Finally, Transce3nd LLC bought a new stake in Novo Nordisk A/S during the fourth quarter valued at about $33,000. 11.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NVO shares. HSBC cut 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 report on Thursday, July 31st. Wall Street Zen cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. UBS Group downgraded shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday, August 5th. Barclays reaffirmed an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Finally, BNP Paribas raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a report on Wednesday, August 13th. Three investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $81.00.

Novo Nordisk A/S Price Performance

Shares of NVO stock traded up $0.9920 during mid-day trading on Tuesday, hitting $54.7420. The company had a trading volume of 25,876,045 shares, compared to its average volume of 28,030,364. Novo Nordisk A/S has a 52-week low of $45.05 and a 52-week high of $139.74. The stock's 50 day moving average price is $64.52 and its 200-day moving average price is $70.02. 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 company has a market capitalization of $244.42 billion, a P/E ratio of 15.04, a P/E/G ratio of 1.84 and a beta of 0.63.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. The company had revenue of $11.69 billion for the quarter, compared to the consensus estimate of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. Equities research analysts forecast 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 will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be paid a dividend of $0.4119 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S's dividend payout ratio is presently 22.53%.

Novo Nordisk A/S 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.