Knuff & Co LLC Boosts Stock Position in Novo Nordisk A/S $NVO

Key Points

• Knuff & Co LLC significantly increased its stake in Novo Nordisk A/S by 456.4%, now holding 83,866 shares valued at approximately $5.82 million.
• Analysts have issued varying ratings for Novo Nordisk A/S, with a consensus rating of "Hold" and an average target price of $83.75.
• Novo Nordisk A/S recently declared a semi-annual dividend of $0.4119 per share, reflecting a dividend yield of 240.0% and a payout ratio of 45.05%.

Knuff & Co LLC boosted its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 456.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 83,866 shares of the company's stock after purchasing an additional 68,792 shares during the period. Novo Nordisk A/S comprises 2.0% of Knuff & Co LLC's holdings, making the stock its 17th largest position. Knuff & Co LLC's holdings in Novo Nordisk A/S were worth $5,824,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NVO. Bank of America Corp DE raised its position in shares of Novo Nordisk A/S by 8.1% in the fourth quarter. Bank of America Corp DE now owns 15,492,384 shares of the company's stock worth $1,332,655,000 after buying an additional 1,165,955 shares in the last quarter. Folketrygdfondet lifted its stake in shares of Novo Nordisk A/S by 6.9% in the 1st quarter. Folketrygdfondet now owns 9,521,912 shares of the company's stock valued at $661,202,000 after acquiring an additional 617,974 shares during the last quarter. Nuveen Asset Management LLC lifted its position in Novo Nordisk A/S by 73.2% in the fourth quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company's stock valued at $537,189,000 after purchasing an additional 2,639,693 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in 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. Finally, Sustainable Growth Advisers LP boosted its holdings in shares of Novo Nordisk A/S by 3.8% during the first quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company's stock worth $384,923,000 after purchasing an additional 202,443 shares during the period. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Trading Down 0.9%

NVO stock traded down $0.5050 during mid-day trading on Wednesday, reaching $54.2750. The company had a trading volume of 9,220,813 shares, compared to its average volume of 11,676,975. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The firm has a 50 day moving average of $64.03 and a 200 day moving average of $69.92. The company has a market capitalization of $242.34 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 1.84 and a beta of 0.63. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $139.74.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. The company had revenue of $11.69 billion for 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%. On average, equities analysts predict 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 announced a semi-annual dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th will be paid a $0.4119 dividend. The ex-dividend date is Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S's dividend payout ratio is presently 22.53%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NVO shares. TD Cowen cut their target price on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday. Barclays reaffirmed an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Wall Street Zen cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. BNP Paribas Exane raised shares of 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 report on Wednesday, August 13th. Finally, HSBC cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price objective on the stock. in a research note on Thursday, July 31st. Three equities research analysts have rated the stock with a Buy rating, eleven have given 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 currently has a consensus rating of "Hold" and an average price target of $81.00.

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.