Global X Japan Co. Ltd. Grows Stock Position in Novo Nordisk A/S $NVO

Key Points

• Global X Japan Co. Ltd. has increased its stake in Novo Nordisk A/S by 50.3%, acquiring an additional 8,100 shares for a total of 24,205 shares valued at approximately $1.67 million.
• Several institutional investors, including Waverly Advisors LLC and Mosaic Family Wealth Partners LLC, have also significantly increased their stakes in Novo Nordisk during the fourth quarter.
• Analysts' ratings for Novo Nordisk include a mix of upgrades and downgrades, with a current consensus rating of Hold and an average price target of $81.00.

Global X Japan Co. Ltd. increased its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 50.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,205 shares of the company's stock after acquiring an additional 8,100 shares during the quarter. Global X Japan Co. Ltd.'s holdings in Novo Nordisk A/S were worth $1,671,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NVO. Revolve Wealth Partners LLC boosted its stake in Novo Nordisk A/S by 8.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock worth $214,000 after purchasing an additional 200 shares during the period. Waverly Advisors LLC boosted its stake in Novo Nordisk A/S by 105.4% during the fourth quarter. Waverly Advisors LLC now owns 13,929 shares of the company's stock worth $1,198,000 after buying an additional 7,147 shares during the period. Mosaic Family Wealth Partners LLC boosted its stake in Novo Nordisk A/S by 31.5% during the fourth quarter. Mosaic Family Wealth Partners LLC now owns 2,941 shares of the company's stock worth $253,000 after buying an additional 704 shares during the period. Vise Technologies Inc. lifted its position in shares of Novo Nordisk A/S by 4.4% during the fourth quarter. Vise Technologies Inc. now owns 20,443 shares of the company's stock worth $1,759,000 after purchasing an additional 862 shares during the last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at about $41,000. 11.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Hsbc Global Res downgraded Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. HSBC downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price objective for the company. in a report on Thursday, July 31st. Wall Street Zen downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Dbs Bank upgraded shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a report on Friday, August 22nd. Finally, Rothschild & Co Redburn upgraded shares of Novo Nordisk A/S from a "neutral" rating to a "buy" rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $81.00.

Novo Nordisk A/S Price Performance

Shares of NVO stock opened at $61.45 on Friday. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $129.48. The firm has a market capitalization of $274.37 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 2.35 and a beta of 0.66. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. The stock's 50-day simple moving average is $56.88 and its 200-day simple moving average is $65.44.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings results 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. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The business had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. As a group, equities analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

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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