Rathbones Group PLC Grows Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Key Points

• Rathbones Group PLC increased its holdings in Novo Nordisk A/S by 249.7% in Q1, now owning 42,006 shares valued at approximately $2.9 million.
• Novo Nordisk A/S recently declared a semi-annual dividend of $0.4119 per share, with a dividend yield of 240.0%.
• Analyst ratings for Novo Nordisk A/S have been mixed, with upgrades to "neutral" from BNP Paribas but a "hold" rating and reduced target prices from others like BMO Capital Markets.

Rathbones Group PLC raised its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 249.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,006 shares of the company's stock after acquiring an additional 29,993 shares during the quarter. Rathbones Group PLC's holdings in Novo Nordisk A/S were worth $2,917,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NVO. BIP Wealth LLC increased its position in shares of Novo Nordisk A/S by 3.9% during the fourth quarter. BIP Wealth LLC now owns 3,642 shares of the company's stock valued at $313,000 after buying an additional 138 shares during the period. Xponance Inc. increased its position in shares of Novo Nordisk A/S by 5.0% during the first quarter. Xponance Inc. now owns 3,314 shares of the company's stock valued at $230,000 after buying an additional 158 shares during the period. Foster Dykema Cabot & Partners LLC increased its position in shares of Novo Nordisk A/S by 3.8% during the first quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company's stock valued at $319,000 after buying an additional 166 shares during the period. 180 Wealth Advisors LLC increased its position in shares of 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. Finally, LRI Investments LLC increased its position in shares of 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. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Trading Up 2.2%

NYSE:NVO opened at $50.90 on Thursday. The company's 50 day moving average price is $65.84 and its 200-day moving average price is $70.91. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $139.74. 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 has a market cap of $227.27 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.71 and a beta of 0.63.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS 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 firm had revenue of $11.69 billion for the quarter, compared to analysts' expectations of $77.51 billion. On average, equities research analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th will be issued a dividend of $0.4119 per share. The ex-dividend date is Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S's dividend payout ratio is presently 45.05%.

Analyst Ratings Changes

NVO has been the topic of several research analyst reports. BNP Paribas upgraded shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research report on Wednesday. BMO Capital Markets restated a "market perform" rating and issued a $64.00 price objective (down previously from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Hsbc Global Res cut shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. 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 on the stock in a report on Wednesday. Finally, Wall Street Zen cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $83.75.

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.

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