Peloton Wealth Strategists Invests $880,000 in Novo Nordisk A/S $NVO

Key Points

• Peloton Wealth Strategists invested approximately $880,000 in Novo Nordisk A/S, acquiring 12,680 shares in the first quarter.
• Several hedge funds increased their stakes in Novo Nordisk, with notable increases from Xponance Inc. and Foster Dykema Cabot & Partners LLC, indicating strong institutional interest.
• Novo Nordisk reported a quarterly EPS of $0.97, exceeding expectations, along with a net margin of 35.60% and a dividend payout ratio of 22.53%.

Peloton Wealth Strategists acquired a new position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 12,680 shares of the company's stock, valued at approximately $880,000.

A number of other hedge funds also recently made changes to their positions in the stock. Xponance Inc. lifted its holdings in shares of Novo Nordisk A/S by 5.0% during the 1st quarter. Xponance Inc. now owns 3,314 shares of the company's stock worth $230,000 after acquiring an additional 158 shares during the last quarter. Foster Dykema Cabot & Partners LLC lifted its stake in Novo Nordisk A/S by 3.8% in the first quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company's stock worth $319,000 after purchasing an additional 166 shares during the last quarter. 180 Wealth Advisors LLC boosted its position in Novo Nordisk A/S by 3.6% during the first quarter. 180 Wealth Advisors LLC now owns 5,014 shares of the company's stock valued at $348,000 after buying an additional 173 shares during the period. LRI Investments LLC boosted its position in Novo Nordisk A/S by 1.4% during the fourth quarter. LRI Investments LLC now owns 13,060 shares of the company's stock valued at $1,123,000 after buying an additional 176 shares during the period. Finally, Beacon Financial Group boosted its position in Novo Nordisk A/S by 6.5% during the first quarter. Beacon Financial Group now owns 2,884 shares of the company's stock valued at $200,000 after buying an additional 177 shares during the period. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Performance

Shares of NYSE:NVO opened at $54.30 on Tuesday. The company has a market cap of $242.45 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 2.10 and a beta of 0.66. The company has a 50-day moving average price of $59.16 and a 200-day moving average price of $67.16. 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 has a 12 month low of $45.05 and a 12 month high of $138.22.

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

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were paid 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 22.53%.

Analyst Ratings Changes

Several research firms have issued reports on NVO. BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 price target for the company in a research report on Wednesday, August 13th. BNP Paribas upgraded shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research report on Wednesday, August 13th. UBS Group lowered shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 5th. Barclays restated an "equal weight" rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Finally, Zacks Research lowered shares of Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 20th. Three equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $81.00.

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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