Focus Partners Wealth Buys 67,853 Shares of Novo Nordisk A/S $NVO

Key Points

• Focus Partners Wealth increased its stake in Novo Nordisk A/S by 17.6%, acquiring an additional 67,853 shares, bringing its total holdings to 453,434 shares valued at $31.49 million.
• Novo Nordisk reported earnings of $0.97 EPS, surpassing analysts' expectations of $0.93, with quarterly revenue of $11.69 billion.
• Institutional investors own approximately 11.54% of Novo Nordisk's stock, with several firms recently modifying their positions, indicating a growing interest in the company.

Focus Partners Wealth increased its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 17.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 453,434 shares of the company's stock after purchasing an additional 67,853 shares during the period. Focus Partners Wealth's holdings in Novo Nordisk A/S were worth $31,489,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Revolve Wealth Partners LLC grew its position in Novo Nordisk A/S by 8.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock valued at $214,000 after acquiring an additional 200 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Novo Nordisk A/S by 3.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,080 shares of the company's stock valued at $8,179,000 after acquiring an additional 2,920 shares during the last quarter. Nuveen Asset Management LLC grew its position in Novo Nordisk A/S by 73.2% in the fourth quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company's stock valued at $537,189,000 after acquiring an additional 2,639,693 shares during the last quarter. Quadcap Wealth Management LLC grew its position in Novo Nordisk A/S by 84.4% in the fourth quarter. Quadcap Wealth Management LLC now owns 3,623 shares of the company's stock valued at $312,000 after acquiring an additional 1,658 shares during the last quarter. Finally, Polar Asset Management Partners Inc. grew its position in Novo Nordisk A/S by 86.0% in the fourth quarter. Polar Asset Management Partners Inc. now owns 27,900 shares of the company's stock valued at $2,400,000 after acquiring an additional 12,900 shares during the last quarter. Institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock opened at $54.29 on Friday. The stock's 50 day moving average is $58.25 and its 200 day moving average is $66.74. 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 has a market cap of $242.40 billion, a P/E ratio of 14.91, a P/E/G ratio of 2.06 and a beta of 0.66. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $138.22.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted 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. The company 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%. As a group, research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NVO. Sanford C. Bernstein upgraded Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a research report on Tuesday. Hsbc Global Res cut Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Wall Street Zen cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Dbs Bank upgraded Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research report on Friday, August 22nd. Finally, HSBC cut Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price target on the stock. in a report on Thursday, July 31st. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $81.00.

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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