Novo Nordisk A/S $NVO Stake Increased by Concurrent Investment Advisors LLC

Key Points

• Concurrent Investment Advisors LLC raised its stake in Novo Nordisk A/S by 35.5% in Q2, acquiring a total of 59,441 shares valued at approximately $4.1 million.
• Novo Nordisk A/S reported earnings of $0.97 per share, surpassing analysts' expectations of $0.93, with a net margin of 35.6% and revenue of $11.69 billion for the quarter.
• The company declared a semi-annual dividend of $0.4119 per share, with a yield of 240.0% and a low dividend payout ratio of 22.53%.

Concurrent Investment Advisors LLC increased its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 35.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,441 shares of the company's stock after buying an additional 15,585 shares during the period. Concurrent Investment Advisors LLC's holdings in Novo Nordisk A/S were worth $4,103,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NVO. Revolve Wealth Partners LLC increased its stake in Novo Nordisk A/S by 8.7% during 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 increased its stake in Novo Nordisk A/S by 9.6% during the first quarter. GAMMA Investing LLC now owns 9,466 shares of the company's stock valued at $657,000 after purchasing an additional 827 shares during the last quarter. CX Institutional bought a new stake in Novo Nordisk A/S during the first quarter valued at $36,000. Sound Income Strategies LLC increased its stake in Novo Nordisk A/S by 69.6% during the first quarter. Sound Income Strategies LLC now owns 914 shares of the company's stock valued at $63,000 after purchasing an additional 375 shares during the last quarter. Finally, North Star Investment Management Corp. increased its stake 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 valued at $1,440,000 after purchasing an additional 3,200 shares during the last quarter. Institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Stock Performance

NVO stock opened at $57.51 on Tuesday. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $120.47. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $256.76 billion, a P/E ratio of 15.80, a PEG ratio of 2.58 and a beta of 0.68. The company has a 50-day simple moving average of $55.61 and a 200 day simple moving average of $63.03.

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 for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $77.51 billion. Sell-side 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. 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 is presently 22.53%.

Analyst Ratings Changes

NVO has been the subject of several recent research reports. Berenberg Bank upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Wednesday, September 17th. HSBC set a $70.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, October 1st. Rothschild & Co Redburn raised shares of Novo Nordisk A/S from a "neutral" rating to a "buy" rating in a report on Tuesday, September 16th. Zacks Research raised shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a report on Monday, September 29th. Finally, BNP Paribas raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Novo Nordisk A/S has an average rating of "Moderate Buy" and an average target price of $77.50.

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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