Flow Traders U.S. LLC Invests $1.63 Million in Novo Nordisk A/S $NVO

Key Points

• Flow Traders U.S. LLC acquired a new stake in Novo Nordisk A/S by purchasing 23,464 shares valued at approximately $1.63 million during the 1st quarter.
• Multiple institutional investors, including Banco Bilbao Vizcaya Argentaria S.A., significantly increased their holdings in Novo Nordisk A/S, indicating growing confidence in the company's stock.
• Analysts have downgraded their ratings for Novo Nordisk A/S, with HSBC and other firms switching from "buy" to "hold," affecting the stock's consensus rating, currently at a "hold."

Flow Traders U.S. LLC purchased a new position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 23,464 shares of the company's stock, valued at approximately $1,629,000.

Several other hedge funds have also made changes to their positions in the business. BIP Wealth LLC lifted its position in shares of Novo Nordisk A/S by 3.9% during the fourth quarter. BIP Wealth LLC now owns 3,642 shares of the company's stock worth $313,000 after purchasing an additional 138 shares in the last quarter. Xponance Inc. lifted its position in shares of Novo Nordisk A/S by 5.0% during the first quarter. Xponance Inc. now owns 3,314 shares of the company's stock worth $230,000 after purchasing an additional 158 shares in the last quarter. Foster Dykema Cabot & Partners LLC lifted its position in shares of Novo Nordisk A/S by 3.8% during the first quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company's stock worth $319,000 after purchasing an additional 166 shares in the last quarter. 180 Wealth Advisors LLC lifted its position in shares of Novo Nordisk A/S by 3.6% during the first quarter. 180 Wealth Advisors LLC now owns 5,014 shares of the company's stock worth $348,000 after purchasing an additional 173 shares in the last quarter. Finally, LRI Investments LLC raised its holdings in Novo Nordisk A/S by 1.4% in the fourth quarter. LRI Investments LLC now owns 13,060 shares of the company's stock valued at $1,123,000 after acquiring an additional 176 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Stock Up 2.6%

NVO stock traded up $1.4410 during midday trading on Friday, reaching $56.8910. 17,869,499 shares of the company were exchanged, compared to its average volume of 29,651,820. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $139.74. The stock's 50-day simple moving average is $62.57 and its 200 day simple moving average is $69.33. The company has a market cap of $254.02 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 1.98 and a beta of 0.63.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The company had revenue of $11.69 billion for the quarter, compared to analysts' expectations of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. On average, equities 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 announced a semi-annual dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th will be given a dividend of $0.4119 per share. The ex-dividend date is Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S's dividend payout ratio (DPR) is 22.53%.

Analyst Ratings Changes

Several analysts recently weighed in on NVO shares. Barclays reaffirmed an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. TD Cowen reduced 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 report on Tuesday, August 19th. Hsbc Global Res cut shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. BNP Paribas raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a report on Wednesday, August 13th. Finally, Zacks Research cut shares of Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a report on Wednesday. Three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock 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.