RPG Investment Advisory LLC Acquires 101,994 Shares of Novo Nordisk A/S $NVO

Key Points

• RPG Investment Advisory LLC increased its holdings in Novo Nordisk A/S by 122.7% in the first quarter, owning 185,138 shares valued at approximately $12.86 million.
• Analyst ratings have varied, with Zacks Research downgrading Novo Nordisk A/S to a "strong sell" and BNP Paribas Exane upgrading it to "neutral" with a target price set at $54.00.
• Novo Nordisk A/S reported $0.97 EPS for the quarter, exceeding analysts' expectations of $0.93, along with a projected earnings per share of 3.84 for the current year.

RPG Investment Advisory LLC boosted its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 122.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 185,138 shares of the company's stock after purchasing an additional 101,994 shares during the quarter. RPG Investment Advisory LLC's holdings in Novo Nordisk A/S were worth $12,856,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Copeland Capital Management LLC raised its stake in Novo Nordisk A/S by 184.8% during the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock worth $27,000 after acquiring an additional 255 shares in the last quarter. North Capital Inc. acquired a new position in Novo Nordisk A/S during the first quarter worth about $27,000. Park Square Financial Group LLC acquired a new position in Novo Nordisk A/S during the fourth quarter worth about $29,000. Stone House Investment Management LLC acquired a new position in Novo Nordisk A/S during the first quarter worth about $30,000. Finally, Disciplina Capital Management LLC raised its stake in Novo Nordisk A/S by 162.3% during the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company's stock worth $33,000 after acquiring an additional 297 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on NVO shares. Hsbc Global Res downgraded Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. TD Cowen lowered their price objective on Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday. Zacks Research downgraded Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a research note on Wednesday. BNP Paribas raised Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research note on Wednesday, August 13th. Finally, Barclays reaffirmed an "equal weight" rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $81.00.

Novo Nordisk A/S Trading Up 2.6%

NVO stock traded up $1.4410 during trading on Friday, hitting $56.8910. The company had a trading volume of 17,869,499 shares, compared to its average volume of 29,123,660. The business has a 50-day moving average of $62.57 and a 200-day moving average of $69.33. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $139.74. The stock has a market cap of $254.02 billion, a PE ratio of 15.63, 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 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $77.51 billion. Research 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 business also recently announced a semi-annual dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be issued a $0.4119 dividend. The ex-dividend date is Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S's dividend payout ratio is presently 22.53%.

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.