Novo Nordisk A/S $NVO Shares Bought by Cim LLC

Key Points

• Cim LLC increased its position in Novo Nordisk A/S shares by 4.0%, owning 220,221 shares worth $15,292,000 at the end of the last quarter.
• Novo Nordisk A/S reported $0.97 EPS for the last quarter, surpassing the consensus estimate of $0.93.
• Four research analysts have given Novo Nordisk A/S a consensus rating of "Hold" with an average target price of $81.00.

Cim LLC lifted its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 4.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 220,221 shares of the company's stock after buying an additional 8,398 shares during the period. Novo Nordisk A/S makes up approximately 2.3% of Cim LLC's portfolio, making the stock its 19th largest position. Cim LLC's holdings in Novo Nordisk A/S were worth $15,292,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. North Star Investment Management Corp. increased its holdings in shares of Novo Nordisk A/S by 18.2% during the 1st quarter. North Star Investment Management Corp. now owns 20,742 shares of the company's stock worth $1,440,000 after buying an additional 3,200 shares during the last quarter. Acadian Asset Management LLC increased its holdings 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 worth $72,523,000 after buying an additional 1,038,137 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Novo Nordisk A/S by 6.0% during the 1st quarter. Bank of New York Mellon Corp now owns 839,802 shares of the company's stock worth $58,316,000 after buying an additional 47,804 shares during the last quarter. Stanley Laman Group Ltd. acquired a new stake in shares of Novo Nordisk A/S during the 1st quarter worth approximately $390,000. Finally, Dover Advisors LLC acquired a new stake in shares of Novo Nordisk A/S during the 1st quarter worth approximately $505,000. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $54.29 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $138.22. The stock has a market capitalization of $242.40 billion, a PE ratio of 14.91, a P/E/G ratio of 2.06 and a beta of 0.66. The firm has a 50 day moving average of $58.25 and a two-hundred day moving average of $66.74.

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, 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 company had revenue of $11.69 billion during the quarter, compared to analysts' expectations of $77.51 billion. On average, research 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 declared a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were given 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 dividend payout ratio (DPR) is currently 22.53%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NVO. UBS Group downgraded shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday, August 5th. Barclays reaffirmed an "equal weight" rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Sanford C. Bernstein raised shares of Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a research report on Tuesday. BNP Paribas raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research report on Wednesday, August 13th. Finally, Wall Street Zen cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Novo Nordisk A/S has a consensus rating of "Hold" and an average target price 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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