Novo Nordisk A/S $NVO Shares Bought by MGO One Seven LLC

Key Points

• MGO One Seven LLC increased its stake in Novo Nordisk A/S by 183.0% during the second quarter, holding 50,154 shares valued at approximately $3.46 million as of the latest filing.
• Analysts have varied opinions on NVO, with BNP Paribas upgrading the stock to "neutral" and TD Cowen lowering its price target from $105 to $70 while maintaining a "buy" rating.
• Novo Nordisk recently reported an earnings per share (EPS) of $0.97, surpassing estimates by $0.04, and had a net margin of 35.60% for the quarter.

MGO One Seven LLC grew its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 183.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,154 shares of the company's stock after buying an additional 32,432 shares during the quarter. MGO One Seven LLC's holdings in Novo Nordisk A/S were worth $3,462,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Revolve Wealth Partners LLC grew its position in shares of Novo Nordisk A/S by 8.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock valued at $214,000 after purchasing an additional 200 shares during the last quarter. GAMMA Investing LLC lifted its stake in Novo Nordisk A/S by 9.6% in the 1st quarter. GAMMA Investing LLC now owns 9,466 shares of the company's stock valued at $657,000 after buying an additional 827 shares in the last quarter. CX Institutional acquired a new stake in Novo Nordisk A/S during the 1st quarter valued at $36,000. Sound Income Strategies LLC grew its holdings in Novo Nordisk A/S by 69.6% during the 1st quarter. Sound Income Strategies LLC now owns 914 shares of the company's stock valued at $63,000 after buying 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 buying an additional 3,200 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on NVO shares. BNP Paribas raised Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research note on Wednesday, August 13th. Weiss Ratings restated a "hold (c-)" rating on shares of Novo Nordisk A/S in a report on Saturday, September 27th. TD Cowen lowered their price target on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, August 19th. 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. Finally, HSBC set a $70.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $77.50.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $57.51 on Tuesday. The company has a market cap of $256.76 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 2.58 and a beta of 0.68. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $120.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The stock's 50-day moving average is $55.61 and its 200-day moving average is $63.03.

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, 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 firm had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. Equities 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 business also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were issued a $0.4119 dividend. This represents a yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S's dividend payout ratio is currently 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.

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