Novo Nordisk A/S $NVO Position Raised by NewEdge Advisors LLC

Key Points

• NewEdge Advisors LLC increased its stake in Novo Nordisk A/S by 29.1% in the first quarter, holding 432,345 shares now worth approximately $30 million.
• Analyst ratings for Novo Nordisk A/S are mixed, with three ratings being "Buy", twelve "Hold", and one "Sell", as the stock has an average price target of $81.00.
• Novo Nordisk A/S reported a quarterly earnings per share (EPS) of $0.97, surpassing estimates and boasting a return on equity of 78.64%.

NewEdge Advisors LLC increased its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 29.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 432,345 shares of the company's stock after purchasing an additional 97,377 shares during the quarter. NewEdge Advisors LLC's holdings in Novo Nordisk A/S were worth $30,022,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of NVO. Nuveen LLC acquired a new stake in Novo Nordisk A/S in the first quarter valued at approximately $370,272,000. Nuveen Asset Management LLC grew 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 acquiring an additional 2,639,693 shares in the last quarter. Two Sigma Investments LP acquired a new stake in Novo Nordisk A/S in the fourth quarter valued at approximately $158,657,000. Amundi grew its position in Novo Nordisk A/S by 49.1% in the first quarter. Amundi now owns 4,938,507 shares of the company's stock valued at $331,576,000 after acquiring an additional 1,627,051 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in Novo Nordisk A/S by 649.0% in the fourth 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.

Analyst Ratings Changes

Several analysts have issued reports on NVO shares. BNP Paribas Exane raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 price objective for the company in a research report on Wednesday, August 13th. Wall Street Zen downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. HSBC downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price target for the company. in a research report on Thursday, July 31st. Barclays reissued an "equal weight" rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. 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. Three analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $81.00.

Novo Nordisk A/S Stock Performance

NVO traded down $0.99 during trading hours on Friday, hitting $55.15. 15,486,058 shares of the stock were exchanged, compared to its average volume of 14,238,722. The stock has a 50-day simple moving average of $59.46 and a 200-day simple moving average of $67.40. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $138.22. The stock has a market cap of $246.23 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 2.10 and a beta of 0.66. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56.

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

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Investors 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 22.53%.

About Novo Nordisk A/S

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.