Greenwood Capital Associates LLC Takes Position in Novo Nordisk A/S $NVO

Key Points

• Greenwood Capital Associates LLC acquired a new stake in Novo Nordisk A/S, purchasing 56,884 shares valued at approximately $3.93 million in the second quarter.
• Securities analysts have mixed views on Novo Nordisk, with recent price targets ranging from $54.00 to $77.50 and ratings from Strong Buy to Sell.
• Novo Nordisk's stock hit a one-year low of $45.05 and a high of $120.56, with a current market cap of $262.42 billion.

Greenwood Capital Associates LLC purchased a new stake in Novo Nordisk A/S (NYSE:NVO - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 56,884 shares of the company's stock, valued at approximately $3,926,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NVO. Copeland Capital Management LLC raised its stake in Novo Nordisk A/S by 184.8% during the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after acquiring an additional 255 shares during the last quarter. North Capital Inc. purchased a new stake in Novo Nordisk A/S during the 1st quarter valued at approximately $27,000. Stone House Investment Management LLC purchased a new stake in Novo Nordisk A/S during the 1st quarter valued at approximately $30,000. Disciplina Capital Management LLC raised its stake in Novo Nordisk A/S by 162.3% during the 1st quarter. Disciplina Capital Management LLC now owns 480 shares of the company's stock valued at $33,000 after acquiring an additional 297 shares during the last quarter. Finally, Spirit of America Management Corp NY purchased a new stake in Novo Nordisk A/S during the 1st quarter valued at approximately $35,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on NVO. HSBC set a $70.00 price objective on Novo Nordisk A/S in a research note on Wednesday. BNP Paribas Exane raised Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 target price for the company in a research note on Wednesday, August 13th. UBS Group downgraded Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research note on Tuesday, August 5th. Dbs Bank raised Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research note on Friday, August 22nd. Finally, Rothschild & Co Redburn raised Novo Nordisk A/S from a "neutral" rating to a "buy" rating in a research note on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $77.50.

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $58.77 on Friday. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $120.56. The company has a market capitalization of $262.42 billion, a P/E ratio of 16.15, a PEG ratio of 2.27 and a beta of 0.68. The business has a 50 day moving average price of $55.16 and a 200 day moving average price of $63.98. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56.

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, beating the consensus estimate of $0.93 by $0.04. The firm had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Sell-side analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

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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