Jacobi Capital Management LLC Grows Stock Position in Novo Nordisk A/S $NVO

Key Points

• Jacobi Capital Management LLC increased its holdings in Novo Nordisk A/S by 61.7%, owning 13,324 shares valued at approximately $925,000 as of the latest SEC filing.
• Novo Nordisk A/S reported $0.97 EPS in its latest earnings results, exceeding analysts' expectations, with a net margin of 35.60%.
• Several analysts downgraded Novo Nordisk A/S's stock ratings, with HSBC changing it from "buy" to "hold" and setting a target price of $57.00.

Jacobi Capital Management LLC increased its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 61.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,324 shares of the company's stock after purchasing an additional 5,084 shares during the quarter. Jacobi Capital Management LLC's holdings in Novo Nordisk A/S were worth $925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Park Square Financial Group LLC bought a new stake in shares of Novo Nordisk A/S in the fourth quarter worth about $29,000. North Capital Inc. bought a new stake in shares of Novo Nordisk A/S in the first quarter worth about $27,000. Copeland Capital Management LLC grew its stake in shares of Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock worth $27,000 after purchasing an additional 255 shares during the last quarter. Stone House Investment Management LLC bought a new stake in shares of Novo Nordisk A/S in the first quarter worth about $30,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of Novo Nordisk A/S in the fourth quarter worth about $40,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $54.94 on Friday. 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 $57.96 and its two-hundred day simple moving average is $66.49. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $138.22. The stock has a market cap of $245.31 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 2.06 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS 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 firm had revenue of $11.69 billion for the quarter, compared to analysts' expectations of $77.51 billion. As a group, analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. 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 research note on Thursday, July 31st. Dbs Bank raised Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research note on Friday, August 22nd. TD Cowen cut their price objective on Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, August 19th. Zacks Research cut Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 20th. Finally, UBS Group cut Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 5th. 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's stock. Based on data from MarketBeat.com, Novo Nordisk A/S has a consensus 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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