Signaturefd LLC Raises Stake in Novo Nordisk A/S $NVO

Key Points

• Signaturefd LLC increased its stake in Novo Nordisk A/S by 6.9% during the second quarter, now holding 75,981 shares valued at approximately $5.24 million.
• Despite recent institutional investment increases, UBS Group downgraded Novo Nordisk's rating from "buy" to "neutral," while other brokerages have issued mixed ratings.
• In its latest earnings report, Novo Nordisk A/S reported an EPS of $0.97, exceeding analysts' expectations, while their revenue fell short at $11.69 billion.

Signaturefd LLC raised its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 6.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,981 shares of the company's stock after acquiring an additional 4,923 shares during the quarter. Signaturefd LLC's holdings in Novo Nordisk A/S were worth $5,244,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NVO. Copeland Capital Management LLC lifted its stake in Novo Nordisk A/S by 184.8% in 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 during the last quarter. North Capital Inc. purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter worth approximately $27,000. Park Square Financial Group LLC purchased a new stake in shares of Novo Nordisk A/S during the 4th quarter worth approximately $29,000. Stone House Investment Management LLC purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter worth approximately $30,000. Finally, Disciplina Capital Management LLC lifted its position in shares of Novo Nordisk A/S by 162.3% during the 1st quarter. Disciplina Capital Management LLC now owns 480 shares of the company's stock worth $33,000 after buying an additional 297 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $55.61 on Friday. The firm's fifty day simple moving average is $56.03 and its 200-day simple moving average is $64.53. The stock has a market capitalization of $248.30 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 2.12 and a beta of 0.66. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $121.34. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56.

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 analysts' consensus estimates of $0.93 by $0.04. The business had revenue of $11.69 billion for the quarter, compared to analysts' expectations 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 forecast that Novo Nordisk A/S will post 3.84 earnings per share 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. Shareholders of record on Monday, August 18th were paid a $0.4119 dividend. This represents a yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S's payout ratio is currently 22.53%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NVO. UBS Group downgraded shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 5th. Berenberg Bank upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Wednesday, September 17th. Barclays restated an "equal weight" rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. HSBC downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price objective for the company. in a research report on Thursday, July 31st. Finally, Zacks Research cut shares of Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Novo Nordisk A/S currently has an average rating of "Hold" and a consensus 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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