Novo Nordisk A/S $NVO Shares Bought by Naples Global Advisors LLC

Key Points

• Naples Global Advisors LLC increased its stake in Novo Nordisk A/S by 42.3%, owning 16,741 shares valued at approximately $1.155 million.
• Several hedge funds significantly boosted their holdings in the company, with Copeland Capital Management lifting its stake by 184.8% in Q1.
• Novo Nordisk A/S reported $11.69 billion in revenue for the quarter, exceeding estimates, and announced a dividend cut with a payout ratio of 22.53%.

Naples Global Advisors LLC raised its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 42.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,741 shares of the company's stock after acquiring an additional 4,977 shares during the quarter. Naples Global Advisors LLC's holdings in Novo Nordisk A/S were worth $1,155,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Copeland Capital Management LLC lifted its holdings in Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after acquiring an additional 255 shares during the period. North Capital Inc. acquired a new stake in Novo Nordisk A/S in the first quarter valued at $27,000. Stone House Investment Management LLC acquired a new stake in Novo Nordisk A/S in the first quarter valued at $30,000. Disciplina Capital Management LLC lifted its holdings in Novo Nordisk A/S by 162.3% in the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company's stock valued at $33,000 after acquiring an additional 297 shares during the period. Finally, Spirit of America Management Corp NY acquired a new stake in Novo Nordisk A/S in the first quarter valued at $35,000. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Trading Down 0.7%

Novo Nordisk A/S stock opened at $58.77 on Friday. The stock has a market cap of $262.42 billion, a PE ratio of 16.15, a P/E/G ratio of 2.27 and a beta of 0.68. The stock has a 50-day moving average price of $55.16 and a 200 day moving average price of $63.98. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $120.56. 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 (NYSE:NVO - Get Free Report) last posted 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 analysts' expectations of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Equities research analysts predict that Novo Nordisk A/S will post 3.84 earnings per share 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 issued 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 22.53%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Rothschild & Co Redburn raised Novo Nordisk A/S from a "neutral" rating to a "buy" rating in a research note on Tuesday, September 16th. Morgan Stanley downgraded Novo Nordisk A/S from an "overweight" rating to an "underweight" rating and cut their price target for the stock from $59.00 to $47.00 in a research note on Monday. TD Cowen cut their price target on Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, August 19th. Zacks Research raised Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research note on Monday. Finally, Dbs Bank raised Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research note on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Novo Nordisk A/S has a consensus rating of "Moderate Buy" and a consensus 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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