Modern Wealth Management LLC Buys New Position in Novo Nordisk A/S $NVO

Key Points

• Modern Wealth Management LLC purchased a new stake in Novo Nordisk A/S, buying 5,968 shares valued at approximately $414,000.
• Novo Nordisk A/S reported a quarterly earnings per share (EPS) of $0.97, exceeding estimates and achieving a return on equity of 78.64%.
• The company declared a semi-annual dividend of $0.4119 per share with a payout ratio of 22.53%, despite cutting its dividend yield.

Modern Wealth Management LLC bought a new stake in Novo Nordisk A/S (NYSE:NVO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,968 shares of the company's stock, valued at approximately $414,000.

Several other institutional investors have also recently added to or reduced their stakes in NVO. Nuveen LLC purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter worth about $370,272,000. Two Sigma Investments LP purchased a new position in shares of Novo Nordisk A/S during the 4th quarter valued at approximately $158,657,000. Amundi boosted its stake in shares of Novo Nordisk A/S by 49.1% during the 1st quarter. Amundi now owns 4,938,507 shares of the company's stock valued at $331,576,000 after buying an additional 1,627,051 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Novo Nordisk A/S by 15,919.9% during the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company's stock valued at $72,523,000 after buying an additional 1,038,137 shares during the last quarter. Finally, Two Sigma Advisers LP raised its position in shares of Novo Nordisk A/S by 649.0% during the 4th quarter. Two Sigma Advisers LP now owns 1,021,700 shares of the company's stock valued at $87,887,000 after acquiring an additional 885,300 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Stock Up 1.2%

Shares of NVO stock opened at $54.94 on Monday. 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 200 day simple moving average is $66.17. The company has a market capitalization of $245.31 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 2.08 and a beta of 0.66. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $138.22.

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 the consensus estimate 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 company had revenue of $11.69 billion for the quarter, compared to the consensus estimate of $77.51 billion. As a group, research analysts predict 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 payout ratio is currently 22.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. BNP Paribas Exane raised Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 target price on the stock in a research report on Wednesday, August 13th. Wall Street Zen lowered Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. BNP Paribas raised Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research report on Wednesday, August 13th. Dbs Bank raised Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research report on Friday, August 22nd. Finally, UBS Group lowered Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of "Hold" and a consensus price target 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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