FORA Capital LLC Has $3.45 Million Stake in Novo Nordisk A/S $NVO

Key Points

• FORA Capital LLC has significantly increased its stake in Novo Nordisk A/S by 38.9%, now owning 49,673 shares valued at approximately $3.45 million.
• Several other institutional investors also raised their holdings in Novo Nordisk, with increases ranging from 3.8% to 73.2% in recent quarters.
• Novo Nordisk A/S reported earnings per share of $0.97 for the latest quarter, surpassing analyst expectations of $0.93.

FORA Capital LLC increased its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 38.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,673 shares of the company's stock after buying an additional 13,917 shares during the quarter. FORA Capital LLC's holdings in Novo Nordisk A/S were worth $3,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of America Corp DE increased its stake in shares of Novo Nordisk A/S by 8.1% in the fourth quarter. Bank of America Corp DE now owns 15,492,384 shares of the company's stock valued at $1,332,655,000 after buying an additional 1,165,955 shares during the period. Folketrygdfondet increased its stake in shares of Novo Nordisk A/S by 6.9% in the first quarter. Folketrygdfondet now owns 9,521,912 shares of the company's stock valued at $661,202,000 after buying an additional 617,974 shares during the period. Nuveen Asset Management LLC increased its stake in shares of 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 buying an additional 2,639,693 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Novo Nordisk A/S by 11.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company's stock valued at $395,291,000 after buying an additional 576,900 shares during the period. Finally, Sustainable Growth Advisers LP increased its stake in shares of Novo Nordisk A/S by 3.8% in the first quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company's stock valued at $384,923,000 after buying an additional 202,443 shares during the period. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock opened at $56.35 on Tuesday. The stock has a market capitalization of $251.60 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 1.98 and a beta of 0.63. Novo Nordisk A/S has a 52-week low of $45.05 and a 52-week high of $139.74. The stock's 50 day moving average price is $62.16 and its two-hundred day moving average price is $69.00. 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 (NYSE:NVO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The firm had revenue of $11.69 billion for the quarter, compared to analysts' expectations of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. On average, equities analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be issued a $0.4119 dividend. This represents a dividend yield of 240.0%. The ex-dividend date is Monday, August 18th. Novo Nordisk A/S's dividend payout ratio (DPR) is currently 22.53%.

Analysts Set New Price Targets

Several brokerages recently commented on NVO. UBS Group cut Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday, August 5th. TD Cowen reduced their target price on 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. Wall Street Zen cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. HSBC cut Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 target price on the stock. in a report on Thursday, July 31st. Finally, 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 report on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.

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