Quantitative Investment Management LLC Has $14.40 Million Stock Holdings in Novo Nordisk A/S $NVO

Key Points

• Quantitative Investment Management LLC increased its holdings in Novo Nordisk A/S by 334.8%, acquiring a total of 207,314 shares valued at approximately $14.40 million.
• Several hedge funds, including Nuveen LLC and Bank of America Corp DE, have significantly raised their positions in Novo Nordisk A/S, reflecting broad institutional interest.
• Brokerage ratings for Novo Nordisk A/S have recently been downgraded, with Zacks Research moving its rating from "hold" to "strong sell" and multiple firms adjusting their outlook on the stock.

Quantitative Investment Management LLC lifted its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 334.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 207,314 shares of the company's stock after purchasing an additional 159,638 shares during the period. Novo Nordisk A/S accounts for about 1.3% of Quantitative Investment Management LLC's portfolio, making the stock its 13th largest position. Quantitative Investment Management LLC's holdings in Novo Nordisk A/S were worth $14,395,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Bank of America Corp DE grew its holdings in shares of Novo Nordisk A/S by 8.1% during the fourth quarter. Bank of America Corp DE now owns 15,492,384 shares of the company's stock worth $1,332,655,000 after purchasing an additional 1,165,955 shares during the last quarter. Folketrygdfondet boosted its holdings in Novo Nordisk A/S by 6.9% in the first quarter. Folketrygdfondet now owns 9,521,912 shares of the company's stock valued at $661,202,000 after acquiring an additional 617,974 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in Novo Nordisk A/S by 73.2% in the fourth quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company's stock valued at $537,189,000 after acquiring an additional 2,639,693 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in 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 acquiring an additional 576,900 shares during the last quarter. Finally, Sustainable Growth Advisers LP boosted its holdings in 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 acquiring an additional 202,443 shares during the last quarter. Institutional investors own 11.54% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wall Street Zen cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. BNP Paribas upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a report on Wednesday, August 13th. TD Cowen decreased their price target on Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating on the stock in a report on Tuesday, August 19th. 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 report on Thursday, July 31st. Finally, Barclays restated an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Three investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Novo Nordisk A/S currently has a consensus rating of "Hold" and an average price target of $81.00.

Novo Nordisk A/S Stock Down 1.1%

Shares of NYSE NVO traded down $0.63 during mid-day trading on Monday, reaching $56.35. 16,131,337 shares of the company's stock were exchanged, compared to its average volume of 29,651,820. The business has a fifty day simple moving average of $62.16 and a 200 day simple moving average of $69.00. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $139.74. The firm has a market capitalization of $251.60 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 1.98 and a beta of 0.63. 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 (NYSE:NVO - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. As a group, equities analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be given a $0.4119 dividend. This represents a yield of 240.0%. The ex-dividend date of this dividend is Monday, August 18th. Novo Nordisk A/S's dividend payout ratio (DPR) is currently 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.