Cwm LLC Increases Stock Holdings in Novo Nordisk A/S $NVO

Key Points

• Cwm LLC increased its stake in Novo Nordisk A/S by 37.1% during the second quarter, owning approximately 108,000 shares valued at around $7.45 million.
• Wall Street analysts have varying views on Novo Nordisk, with a range of ratings and target prices, including a recent price forecast increase to $70.00 from HSBC.
• Novo Nordisk A/S reported a quarterly EPS of $0.97, exceeding estimates, and has announced a semi-annual dividend of $0.4119 per share.

Cwm LLC lifted its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 37.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 107,998 shares of the company's stock after purchasing an additional 29,246 shares during the quarter. Cwm LLC's holdings in Novo Nordisk A/S were worth $7,454,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. First Hawaiian Bank raised its holdings in Novo Nordisk A/S by 0.6% in the 1st quarter. First Hawaiian Bank now owns 22,401 shares of the company's stock valued at $1,556,000 after buying an additional 142 shares during the period. Anchor Investment Management LLC raised its holdings in Novo Nordisk A/S by 1.1% in the 1st quarter. Anchor Investment Management LLC now owns 13,597 shares of the company's stock valued at $944,000 after buying an additional 150 shares during the period. Xponance Inc. raised its holdings in Novo Nordisk A/S by 5.0% in the 1st quarter. Xponance Inc. now owns 3,314 shares of the company's stock valued at $230,000 after buying an additional 158 shares during the period. Foster Dykema Cabot & Partners LLC raised its holdings in Novo Nordisk A/S by 3.8% in the 1st quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company's stock valued at $319,000 after buying an additional 166 shares during the period. Finally, PFG Investments LLC raised its holdings in Novo Nordisk A/S by 1.0% in the 1st quarter. PFG Investments LLC now owns 18,102 shares of the company's stock valued at $1,257,000 after buying an additional 178 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVO has been the topic of several research analyst reports. BMO Capital Markets restated a "market perform" rating and issued a $55.00 price objective (up from $50.00) on shares of Novo Nordisk A/S in a report on Tuesday. Rothschild & Co Redburn raised Novo Nordisk A/S from a "neutral" rating to a "buy" rating in a research report on Tuesday, September 16th. Sanford C. Bernstein raised Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a research report on Tuesday, September 9th. HSBC set a $70.00 target price on Novo Nordisk A/S in a research report on Wednesday, October 1st. Finally, Morgan Stanley downgraded Novo Nordisk A/S from an "overweight" rating to an "underweight" rating and dropped their target price for the company from $59.00 to $47.00 in a research report on Monday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $76.00.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $56.67 on Wednesday. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $119.09. The company has a market cap of $253.03 billion, a PE ratio of 15.57, a P/E/G ratio of 2.60 and a beta of 0.68. 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 business has a 50-day simple moving average of $55.80 and a 200-day simple moving average of $62.98.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS 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 the consensus estimate 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 business also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were given a dividend of $0.4119 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S's payout ratio is currently 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.

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