NFJ Investment Group LLC Increases Stake in Novo Nordisk A/S $NVO

Key Points

• NFJ Investment Group LLC significantly increased its stake in Novo Nordisk A/S by 826.9%, acquiring a total of 94,015 shares valued at approximately $6.53 million as of the end of the most recent quarter.
• Recent earnings reported a net margin of 35.60% and earnings per share of $0.97, surpassing estimates, while the company also disclosed a semi-annual dividend yielding 240%.
• The stock has seen a significant price range over the past year, with a low of $45.05 and a high of $138.22, and currently has an average rating of "Hold" from analysts.

NFJ Investment Group LLC lifted its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 826.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 94,015 shares of the company's stock after buying an additional 83,872 shares during the quarter. NFJ Investment Group LLC's holdings in Novo Nordisk A/S were worth $6,528,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Park Square Financial Group LLC purchased a new stake in Novo Nordisk A/S during the fourth quarter valued at $29,000. North Capital Inc. purchased a new stake in Novo Nordisk A/S during the first quarter valued at $27,000. Copeland Capital Management LLC raised its stake in Novo Nordisk A/S by 184.8% during the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after purchasing an additional 255 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in Novo Nordisk A/S during the first quarter valued at $30,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in Novo Nordisk A/S during the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 11.54% of the company's stock.

Analyst Ratings Changes

NVO has been the topic of several recent analyst reports. Zacks Research downgraded shares of Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 20th. Wall Street Zen downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. BNP Paribas raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research note on Wednesday, August 13th. Hsbc Global Res downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Finally, HSBC downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 target price on the stock. in a research note on Thursday, July 31st. Three equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $81.00.

Novo Nordisk A/S Trading Down 1.8%

Shares of NYSE NVO traded down $0.99 during mid-day trading on Friday, reaching $55.15. The company had a trading volume of 15,486,058 shares, compared to its average volume of 14,238,722. The business's 50-day moving average is $59.46 and its 200-day moving average is $67.40. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. 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. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $138.22.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS 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 analysts' expectations of $77.51 billion. Equities 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 issued a dividend of $0.4119 per share. This represents a yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S's dividend payout ratio is presently 22.53%.

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.