Novo Nordisk A/S $NVO Shares Bought by Notis McConarty Edward

Key Points

• Notis McConarty Edward significantly increased its holdings in Novo Nordisk A/S by 329.7% during Q2, now owning 18,950 shares worth approximately $1.3 million.
• HSBC Global Research upgraded Novo Nordisk A/S from a "hold" to a "strong-buy" rating, reflecting positive sentiment among analysts with a consensus price target of $77.50.
• Institutional investors control 11.54% of Novo Nordisk A/S, highlighting increased interest from hedge funds and various asset management firms.

Notis McConarty Edward lifted its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 329.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,950 shares of the company's stock after purchasing an additional 14,540 shares during the quarter. Notis McConarty Edward's holdings in Novo Nordisk A/S were worth $1,308,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Unified Investment Management purchased a new stake in shares of Novo Nordisk A/S during the second quarter worth approximately $692,000. Acadian Asset Management LLC increased its stake in Novo Nordisk A/S by 15,919.9% in the first quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company's stock valued at $72,523,000 after purchasing an additional 1,038,137 shares during the last quarter. Norden Group LLC grew its position in shares of Novo Nordisk A/S by 216.3% during the second quarter. Norden Group LLC now owns 96,332 shares of the company's stock worth $6,649,000 after acquiring an additional 65,877 shares during the last quarter. Guild Investment Management Inc. grew its position in shares of Novo Nordisk A/S by 20.7% during the second quarter. Guild Investment Management Inc. now owns 36,995 shares of the company's stock worth $2,553,000 after acquiring an additional 6,345 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of Novo Nordisk A/S by 48.7% during the second quarter. Farther Finance Advisors LLC now owns 103,138 shares of the company's stock worth $7,119,000 after acquiring an additional 33,794 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NVO shares. Hsbc Global Res raised Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 1st. BNP Paribas raised Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a report on Wednesday, August 13th. Rothschild Redb raised 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 price objective on Novo Nordisk A/S in a research report on Wednesday, October 1st. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Novo Nordisk A/S in a research report on Saturday, September 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $77.50.

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $59.63 on Thursday. The business's 50-day simple moving average is $55.03 and its 200-day simple moving average is $63.45. The firm has a market capitalization of $266.25 billion, a P/E ratio of 16.38, a P/E/G ratio of 2.64 and a beta of 0.68. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $120.56.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.93 by $0.04. The firm had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Equities analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced 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 dividend yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S's dividend payout ratio is presently 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.

Want to see what other hedge funds are holding NVO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novo Nordisk A/S (NYSE:NVO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.