Novo Nordisk A/S $NVO Shares Acquired by Federation des caisses Desjardins du Quebec

Key Points

• Federation des caisses Desjardins du Quebec increased its stake in Novo Nordisk A/S by 40.3%, owning 108,847 shares worth approximately $7.56 million after adding 31,293 shares in the first quarter.
• Novo Nordisk A/S reported an EPS of $0.97 for the latest quarter, exceeding analyst expectations by $0.04, with a revenue of $11.69 billion.
• Analysts have mixed ratings for Novo Nordisk A/S, with three rating it a Buy, twelve a Hold, and one a Sell, resulting in a consensus target price of $81.00.

Federation des caisses Desjardins du Quebec lifted its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 40.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 108,847 shares of the company's stock after purchasing an additional 31,293 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Novo Nordisk A/S were worth $7,558,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. North Star Investment Management Corp. lifted its position in Novo Nordisk A/S by 18.2% in the first quarter. North Star Investment Management Corp. now owns 20,742 shares of the company's stock worth $1,440,000 after buying an additional 3,200 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Novo Nordisk A/S by 6.0% in the first quarter. Bank of New York Mellon Corp now owns 839,802 shares of the company's stock valued at $58,316,000 after acquiring an additional 47,804 shares in the last quarter. Stanley Laman Group Ltd. bought a new stake in shares of Novo Nordisk A/S in the first quarter valued at about $390,000. Dover Advisors LLC bought a new stake in shares of Novo Nordisk A/S in the first quarter valued at about $505,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Novo Nordisk A/S by 15.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 261,243 shares of the company's stock valued at $18,141,000 after purchasing an additional 35,329 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Trading Down 1.8%

Novo Nordisk A/S stock traded down $0.99 during midday trading on Friday, reaching $55.15. 15,486,058 shares of the stock traded hands, compared to its average volume of 14,631,845. The company has a 50-day simple moving average of $59.46 and a two-hundred day simple moving average of $67.62. Novo Nordisk A/S has a 12-month low of $45.05 and a 12-month high of $138.22. The firm has a market cap of $246.23 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 1.95 and a beta of 0.66. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating 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 company had revenue of $11.69 billion during the quarter, compared to analysts' expectations of $77.51 billion. Research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share 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 paid a $0.4119 dividend. This represents a dividend 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%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. BNP Paribas Exane upgraded 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 note on Wednesday, August 13th. TD Cowen decreased their price target on Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, August 19th. UBS Group downgraded Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday, August 5th. HSBC downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 target price for the company. in a research note on Thursday, July 31st. Finally, Zacks Research cut Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 20th. Three research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Novo Nordisk A/S currently has an average rating of "Hold" and a consensus target price 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.