Evergreen Capital Management LLC Boosts Stake in Novo Nordisk A/S $NVO

Key Points

• Evergreen Capital Management LLC significantly increased its stake in Novo Nordisk A/S by 377.5%, owning 151,393 shares valued at approximately $10.68 million as of the latest reporting period.
• In its latest earnings report, Novo Nordisk announced an earnings per share (EPS) of $0.97, exceeding expectations, along with quarterly revenues of $11.69 billion.
• The company has recently cut its dividend, paying $0.4119 per share, resulting in a dividend yield of 240.0% and a payout ratio of 22.53%.

Evergreen Capital Management LLC increased its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 377.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 151,393 shares of the company's stock after purchasing an additional 119,688 shares during the period. Evergreen Capital Management LLC's holdings in Novo Nordisk A/S were worth $10,684,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Copeland Capital Management LLC raised its holdings in shares of Novo Nordisk A/S by 184.8% in the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after purchasing an additional 255 shares in the last quarter. North Capital Inc. acquired a new stake in shares of Novo Nordisk A/S during the first quarter worth about $27,000. Park Square Financial Group LLC acquired a new position in Novo Nordisk A/S in the fourth quarter valued at $29,000. Stone House Investment Management LLC acquired a new position in Novo Nordisk A/S in the first quarter valued at $30,000. Finally, Disciplina Capital Management LLC increased its stake in Novo Nordisk A/S by 162.3% in the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company's stock valued at $33,000 after purchasing an additional 297 shares during the period. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Stock Down 0.6%

Shares of NYSE NVO opened at $56.12 on Friday. Novo Nordisk A/S has a 12-month low of $45.05 and a 12-month high of $139.74. The company has a market capitalization of $250.55 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 1.96 and a beta of 0.63. 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 firm's 50-day moving average is $61.07 and its two-hundred day moving average is $68.62.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced 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 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 analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were paid 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 dividend payout ratio is presently 22.53%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Dbs Bank upgraded shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research note on Friday, August 22nd. UBS Group lowered shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 5th. Barclays restated an "equal weight" rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. TD Cowen lowered their target price on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, August 19th. 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 analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target 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.

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