Janney Capital Management LLC Purchases New Shares in Novo Nordisk A/S $NVO

Key Points

• Janney Capital Management LLC has purchased a new stake in Novo Nordisk A/S, acquiring 143,089 shares valued at approximately $9.88 million during the 2nd quarter.
• Shares of Novo Nordisk A/S opened at $55.52 and have experienced a 52-week range between $45.05 and $120.56, with a market cap of $247.90 billion.
• The company recently reported earnings of $0.97 per share, surpassing analyst expectations of $0.93, and announced a semi-annual dividend of $0.4119.

Janney Capital Management LLC purchased a new stake in Novo Nordisk A/S (NYSE:NVO - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 143,089 shares of the company's stock, valued at approximately $9,876,000.

Other large investors have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC boosted its holdings in shares of Novo Nordisk A/S by 301,443.6% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company's stock valued at $690,560,000 after buying an additional 10,001,898 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Novo Nordisk A/S in the 1st quarter worth about $370,272,000. Amundi grew its position in shares of Novo Nordisk A/S by 49.1% in the 1st quarter. Amundi now owns 4,938,507 shares of the company's stock worth $331,576,000 after buying an additional 1,627,051 shares during the period. Acadian Asset Management LLC grew its position in shares of Novo Nordisk A/S by 15,919.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company's stock worth $72,523,000 after buying an additional 1,038,137 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Novo Nordisk A/S by 118.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,594,544 shares of the company's stock worth $110,725,000 after buying an additional 864,579 shares during the period. Institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $55.52 on Tuesday. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $120.56. The business has a 50-day simple moving average of $55.84 and a two-hundred day simple moving average of $64.23. 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 firm has a market cap of $247.90 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 2.11 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its 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 during the quarter, compared to analyst estimates of $77.51 billion. On average, 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 announced a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were given a $0.4119 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S's payout ratio is 22.53%.

Analyst Ratings Changes

A number of research firms have recently weighed in on NVO. Dbs Bank raised shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research report on Friday, August 22nd. Morgan Stanley downgraded shares of Novo Nordisk A/S from an "overweight" rating to an "underweight" rating and reduced their target price for the stock from $59.00 to $47.00 in a research report on Monday. Barclays reaffirmed an "equal weight" rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Sanford C. Bernstein raised Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a research report on Tuesday, September 9th. Finally, Wall Street Zen lowered Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $75.33.

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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