Novo Nordisk A/S $NVO Shares Acquired by Naviter Wealth LLC

Key Points

• Naviter Wealth LLC increased its stake in Novo Nordisk A/S by 9.9%, acquiring an additional 5,361 shares, bringing their total holdings to 59,734 shares valued at $4.12 million.
• Novo Nordisk reported quarterly earnings of $0.97 EPS, surpassing analyst expectations of $0.93, with a net margin of 35.60% and revenue of $11.69 billion.
• Analysts have mixed ratings for Novo Nordisk A/S, with some upgrading it to a "strong-buy" while others maintain a "hold" rating, reflecting a consensus rating of "Moderate Buy" and an average price target of $77.50.

Naviter Wealth LLC increased its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 9.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,734 shares of the company's stock after purchasing an additional 5,361 shares during the period. Naviter Wealth LLC's holdings in Novo Nordisk A/S were worth $4,123,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NVO. Revolve Wealth Partners LLC increased its position in Novo Nordisk A/S by 8.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock worth $214,000 after purchasing an additional 200 shares during the last quarter. GAMMA Investing LLC increased its position in Novo Nordisk A/S by 9.6% during the first quarter. GAMMA Investing LLC now owns 9,466 shares of the company's stock worth $657,000 after purchasing an additional 827 shares during the last quarter. CX Institutional acquired a new stake in Novo Nordisk A/S during the first quarter worth about $36,000. Sound Income Strategies LLC increased its position in Novo Nordisk A/S by 69.6% during the first quarter. Sound Income Strategies LLC now owns 914 shares of the company's stock worth $63,000 after purchasing an additional 375 shares during the last quarter. Finally, North Star Investment Management Corp. increased its position in Novo Nordisk A/S by 18.2% during the first quarter. North Star Investment Management Corp. now owns 20,742 shares of the company's stock worth $1,440,000 after purchasing an additional 3,200 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Trading Up 1.0%

NYSE NVO opened at $57.51 on Tuesday. The firm has a 50 day simple moving average of $55.61 and a 200-day simple moving average of $63.03. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $120.47. The firm has a market cap of $256.76 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 2.58 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating the consensus estimate 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 business had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. Equities research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were paid a $0.4119 dividend. 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%.

Analyst Upgrades and Downgrades

NVO has been the subject of several recent analyst reports. BNP Paribas Exane upgraded 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. Rothschild Redb raised shares of Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 16th. HSBC set a $70.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, October 1st. Hsbc Global Res raised shares of Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 1st. Finally, Barclays reaffirmed an "equal weight" rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $77.50.

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.

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