Exchange Traded Concepts LLC Acquires 20,084 Shares of Novo Nordisk A/S $NVO

Key Points

• Exchange Traded Concepts LLC increased its holdings in Novo Nordisk A/S by 29.6% during the second quarter, owning 87,953 shares valued at $6,071,000.
• Novo Nordisk A/S reported a quarterly earnings per share (EPS) of $0.97, exceeding analysts' expectations of $0.93 and generating revenues of $11.69 billion.
• The company announced a semi-annual dividend of $0.4119 per share, with a dividend yield of 240.0% and a payout ratio of 22.53%.

Exchange Traded Concepts LLC lifted its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 29.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 87,953 shares of the company's stock after buying an additional 20,084 shares during the quarter. Exchange Traded Concepts LLC's holdings in Novo Nordisk A/S were worth $6,071,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of NVO. Nuveen LLC acquired a new stake in shares of Novo Nordisk A/S during the first quarter worth $370,272,000. Amundi increased its position in shares of Novo Nordisk A/S by 49.1% in the first quarter. Amundi now owns 4,938,507 shares of the company's stock worth $331,576,000 after purchasing an additional 1,627,051 shares during the period. Acadian Asset Management LLC increased its position in shares of 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 worth $72,523,000 after purchasing an additional 1,038,137 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Novo Nordisk A/S by 118.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,594,544 shares of the company's stock worth $110,725,000 after purchasing an additional 864,579 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Novo Nordisk A/S by 7,508.7% in the first quarter. GAMMA Investing LLC now owns 657,319 shares of the company's stock worth $45,644,000 after purchasing an additional 648,680 shares during the period. Institutional investors and hedge funds own 11.54% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on NVO. HSBC cut Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price target on the stock. in a research report on Thursday, July 31st. BNP Paribas upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research report on Wednesday, August 13th. Dbs Bank upgraded Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research report on Friday, August 22nd. Rothschild Redb upgraded Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Finally, Berenberg Bank upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $81.00.

Novo Nordisk A/S Trading Down 0.6%

Shares of NYSE:NVO traded down $0.40 during midday trading on Friday, hitting $61.45. 12,824,513 shares of the stock were exchanged, compared to its average volume of 13,342,038. The stock has a market capitalization of $274.37 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 2.33 and a beta of 0.66. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. The business's 50-day moving average price is $56.88 and its 200 day moving average price is $65.26. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $129.48.

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

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were given a dividend of $0.4119 per share. 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%.

Novo Nordisk A/S Company 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.