Novo Nordisk A/S $NVO Shares Bought by Amundi

Key Points

• Amundi increased its stake in Novo Nordisk A/S by 49.1%, acquiring an additional 1,627,051 shares to reach a total of 4,938,507 shares valued at approximately $331.6 million.
• In its latest earnings report, Novo Nordisk A/S posted $0.97 EPS, exceeding estimates of $0.93, alongside revenue of $11.69 billion for the quarter.
• The company recently declared a semi-annual dividend of $0.4119, representing a yield of 240.0%, with a dividend payout ratio of 22.53%.

Amundi increased its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 49.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,938,507 shares of the company's stock after acquiring an additional 1,627,051 shares during the period. Amundi owned approximately 0.11% of Novo Nordisk A/S worth $331,576,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Folketrygdfondet raised its holdings in Novo Nordisk A/S by 6.9% in the first quarter. Folketrygdfondet now owns 9,521,912 shares of the company's stock valued at $661,202,000 after buying an additional 617,974 shares during the period. Nuveen Asset Management LLC raised its holdings 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 buying an additional 2,639,693 shares during the period. Goldman Sachs Group Inc. raised its holdings in Novo Nordisk A/S by 11.3% in the first 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 raised its holdings in Novo Nordisk A/S by 3.8% in the first 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. Finally, Nuveen LLC purchased a new position in Novo Nordisk A/S in the first quarter valued at approximately $370,272,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. HSBC lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price target on the stock. in a report on Thursday, July 31st. TD Cowen dropped their price objective 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, August 19th. BNP Paribas upgraded shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research note on Wednesday, August 13th. Barclays reiterated an "equal weight" rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Finally, Dbs Bank upgraded shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research note on Friday, August 22nd. Three research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $81.00.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock traded down $0.99 during mid-day trading on Friday, reaching $55.15. The company's stock had a trading volume of 15,486,058 shares, compared to its average volume of 14,631,845. The firm has a market cap of $246.23 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 1.95 and a beta of 0.66. The business has a 50 day moving average price of $59.46 and a 200-day moving average price of $67.62. 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 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 released its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The firm had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. Sell-side analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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