KMG Fiduciary Partners LLC Takes Position in Novo Nordisk A/S $NVO

Key Points

• KMG Fiduciary Partners LLC acquired a new stake in Novo Nordisk A/S, purchasing 69,441 shares valued at approximately $4.8 million.
• A recent analysis of analyst ratings shows that Novo Nordisk has an average rating of "Hold" with a target price of $81.00, despite mixed ratings from multiple research firms.
• Novo Nordisk A/S reported earnings of $0.97 per share, exceeding analysts' expectations, but also declared a dividend yielding 240% for shareholders, reflecting a low payout ratio of 22.53%.

KMG Fiduciary Partners LLC bought a new stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 69,441 shares of the company's stock, valued at approximately $4,793,000.

A number of other institutional investors and hedge funds have also modified their holdings of NVO. Folketrygdfondet grew its position in Novo Nordisk A/S by 6.9% during the first quarter. Folketrygdfondet now owns 9,521,912 shares of the company's stock valued at $661,202,000 after purchasing an additional 617,974 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Novo Nordisk A/S by 11.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company's stock valued at $395,291,000 after buying an additional 576,900 shares during the period. Sustainable Growth Advisers LP boosted its stake in shares of Novo Nordisk A/S by 3.8% during the 1st quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company's stock valued at $384,923,000 after buying an additional 202,443 shares during the period. Nuveen LLC purchased a new position in shares of Novo Nordisk A/S during the 1st quarter valued at $370,272,000. Finally, Amundi increased its stake in shares of Novo Nordisk A/S by 49.1% in the first quarter. Amundi now owns 4,938,507 shares of the company's stock worth $331,576,000 after acquiring an additional 1,627,051 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on NVO. HSBC cut Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price objective for the company. in a research report on Thursday, July 31st. BNP Paribas Exane upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 price target for the company in a report on Wednesday, August 13th. Zacks Research downgraded Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 20th. Wall Street Zen cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, 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. Six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell 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 $81.00.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO opened at $58.20 on Thursday. The firm has a market capitalization of $259.86 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 2.17 and a beta of 0.66. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $135.20. The business has a fifty day simple moving average of $57.21 and a 200 day simple moving average of $65.81. 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 posted 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 net margin of 35.60% and a return on equity of 78.64%. The firm had revenue of $11.69 billion for the quarter, compared to the consensus estimate of $77.51 billion. Sell-side analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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