Fox Run Management L.L.C. Makes New Investment in Novo Nordisk A/S (NYSE:NVO)

Key Points

• Fox Run Management L.L.C. acquired a new stake in Novo Nordisk A/S by purchasing 15,119 shares valued at approximately $1,050,000 in the first quarter, reflecting growing institutional interest in the company.
• Novo Nordisk recently reported earnings per share of $0.97, surpassing analysts' expectations, and its revenue for the quarter reached $11.69 billion.
• Despite positive earnings, analysts have mixed ratings on the stock, with one firm downgrading from "buy" to "neutral" and an average target price set at $83.75.

Fox Run Management L.L.C. purchased a new stake in Novo Nordisk A/S (NYSE:NVO - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,119 shares of the company's stock, valued at approximately $1,050,000.

Several other large investors have also modified their holdings of NVO. Strategic Investment Solutions Inc. IL lifted its stake in shares of Novo Nordisk A/S by 2,727.3% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company's stock valued at $27,000 after buying an additional 300 shares during the period. Copeland Capital Management LLC lifted its stake in shares of Novo Nordisk A/S by 184.8% during the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after buying an additional 255 shares during the period. North Capital Inc. purchased a new position in shares of Novo Nordisk A/S during the first quarter valued at approximately $27,000. Park Square Financial Group LLC purchased a new position in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $29,000. Finally, Stone House Investment Management LLC purchased a new position in shares of Novo Nordisk A/S during the first quarter valued at approximately $30,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock opened at $50.92 on Friday. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $139.74. The firm has a fifty day simple moving average of $65.40 and a 200-day simple moving average of $70.66. The stock has a market capitalization of $227.35 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 1.75 and a beta of 0.63. 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The business had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. On average, sell-side analysts expect 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 declared a semi-annual dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th will be issued a $0.4119 dividend. This represents a yield of 240.0%. The ex-dividend date of this dividend is Monday, August 18th. Novo Nordisk A/S's payout ratio is 45.05%.

Analysts Set New Price Targets

Several research analysts have weighed in on NVO shares. Dbs Bank lowered shares of Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. UBS Group lowered shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday, August 5th. Guggenheim lowered shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Barclays reissued an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Finally, BNP Paribas Exane raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 price objective for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Novo Nordisk A/S currently has an average rating of "Hold" and an average target price of $83.75.

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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