Elm3 Financial Group LLC Has $661,000 Position in Novo Nordisk A/S $NVO

Key Points

• Elm3 Financial Group LLC reduced its stake in Novo Nordisk A/S by 39.2% during the second quarter, resulting in a position valued at $661,000.
• Several hedge funds have recently adjusted their holdings in Novo Nordisk, with significant increases in positions observed, contributing to institutional investors owning 11.54% of the company's stock.
• Analysts maintain a "Moderate Buy" rating for Novo Nordisk A/S, with a consensus target price of $77.50 and mixed ratings reflecting varied opinions on the stock's performance.

Elm3 Financial Group LLC trimmed its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 39.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,575 shares of the company's stock after selling 6,181 shares during the quarter. Elm3 Financial Group LLC's holdings in Novo Nordisk A/S were worth $661,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NVO. North Capital Inc. acquired a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at $27,000. 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 valued at $27,000 after purchasing an additional 255 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in shares of Novo Nordisk A/S during the first quarter valued at about $30,000. Disciplina Capital Management LLC grew its holdings in shares of Novo Nordisk A/S by 162.3% during the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company's stock worth $33,000 after purchasing an additional 297 shares during the last quarter. Finally, Spirit of America Management Corp NY acquired a new position in shares of Novo Nordisk A/S in the first quarter valued at approximately $35,000. Institutional investors and hedge funds own 11.54% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NVO shares. Weiss Ratings reiterated a "hold (c-)" rating on shares of Novo Nordisk A/S in a research report on Saturday, September 27th. UBS Group lowered shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday, August 5th. Rothschild & Co Redburn upgraded Novo Nordisk A/S from a "neutral" rating to a "buy" rating in a report on Tuesday, September 16th. BNP Paribas raised Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a report on Wednesday, August 13th. Finally, Hsbc Global Res upgraded Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $77.50.

Novo Nordisk A/S Stock Up 0.1%

Shares of Novo Nordisk A/S stock opened at $59.67 on Tuesday. The stock's 50-day moving average is $54.73 and its 200 day moving average is $63.51. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $120.56. The firm has a market cap of $266.43 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 2.63 and a beta of 0.68. 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 (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. The firm had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Equities research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were issued a $0.4119 dividend. This represents a yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S's dividend payout ratio (DPR) is presently 22.53%.

About Novo Nordisk A/S

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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