Phoenix Financial Ltd. Grows Position in Novo Nordisk A/S $NVO

Key Points

• Phoenix Financial Ltd. increased its ownership in Novo Nordisk A/S by 64.1% during Q2, holding a total of 54,378 shares valued at $3,771,000.
• A significant shift in institutional investment occurred, with Kingstone Capital Partners Texas LLC raising its stake by 301,443.6% to over 10 million shares, valued at around $690.6 million.
• Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and an average price target of $76.00 for Novo Nordisk A/S.

Phoenix Financial Ltd. grew its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 64.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,378 shares of the company's stock after buying an additional 21,247 shares during the period. Phoenix Financial Ltd.'s holdings in Novo Nordisk A/S were worth $3,771,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Kingstone Capital Partners Texas LLC raised its holdings in Novo Nordisk A/S by 301,443.6% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company's stock valued at $690,560,000 after acquiring an additional 10,001,898 shares during the last quarter. Folketrygdfondet boosted its holdings in shares of Novo Nordisk A/S by 6.9% during the 1st quarter. Folketrygdfondet now owns 9,521,912 shares of the company's stock worth $661,202,000 after purchasing an additional 617,974 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Novo Nordisk A/S by 11.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company's stock valued at $395,291,000 after purchasing an additional 576,900 shares in the last quarter. Sustainable Growth Advisers LP increased its holdings in shares of Novo Nordisk A/S by 3.8% in the first quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company's stock valued at $384,923,000 after purchasing an additional 202,443 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Novo Nordisk A/S during the first quarter worth approximately $370,272,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NVO has been the topic of a number of recent research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Novo Nordisk A/S in a research note on Tuesday, October 14th. Sanford C. Bernstein upgraded Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a report on Tuesday, September 9th. Barclays reissued an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 price objective for the company in a research report on Wednesday, August 13th. Finally, Morgan Stanley lowered shares of Novo Nordisk A/S from an "overweight" rating to an "underweight" rating and decreased their target price for the company from $59.00 to $47.00 in a report on Monday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $76.00.

Novo Nordisk A/S Stock Down 1.7%

NYSE:NVO opened at $54.77 on Wednesday. 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 stock's fifty day moving average is $56.46 and its two-hundred day moving average is $62.58. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $116.65. The stock has a market capitalization of $244.55 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 2.53 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (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%. Research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current 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 paid a $0.4119 dividend. The ex-dividend date was Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S's payout ratio is 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.

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