Trexquant Investment LP Increases Stock Position in Novo Nordisk A/S $NVO

Key Points

• Trexquant Investment LP increased its stake in Novo Nordisk A/S by 62.6%, owning 377,738 shares worth approximately $26.23 million after acquiring an additional 145,492 shares in the first quarter.
• Several institutional investors, including North Star Investment Management Corp and Bank of New York Mellon Corp, also expanded their holdings in Novo Nordisk during the same period, indicating increasing institutional interest in the company.
• Recently, Novo Nordisk A/S reported a Q2 EPS of $0.97, surpassing estimates, and disclosed a semi-annual dividend, although the payout ratio stands at 22.53%.

Trexquant Investment LP grew its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 62.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 377,738 shares of the company's stock after buying an additional 145,492 shares during the period. Trexquant Investment LP's holdings in Novo Nordisk A/S were worth $26,230,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. North Star Investment Management Corp. grew its stake in shares of Novo Nordisk A/S by 18.2% during the 1st quarter. North Star Investment Management Corp. now owns 20,742 shares of the company's stock valued at $1,440,000 after buying an additional 3,200 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Novo Nordisk A/S by 6.0% during the 1st quarter. Bank of New York Mellon Corp now owns 839,802 shares of the company's stock valued at $58,316,000 after buying an additional 47,804 shares during the period. Stanley Laman Group Ltd. purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at $390,000. Dover Advisors LLC purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at $505,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Novo Nordisk A/S by 15.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 261,243 shares of the company's stock valued at $18,141,000 after buying an additional 35,329 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $56.49 on Thursday. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $139.74. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The firm has a market capitalization of $252.21 billion, a P/E ratio of 15.52, a P/E/G ratio of 1.92 and a beta of 0.63. The company's fifty day moving average price is $61.43 and its two-hundred day moving average price is $68.82.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping 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 analyst estimates of $77.51 billion. On average, research analysts anticipate 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 disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were issued a $0.4119 dividend. The ex-dividend date was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S's payout ratio is currently 22.53%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NVO. TD Cowen reduced their target price on shares of 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 Global Res lowered 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 target price on the stock in a report on Wednesday, August 13th. Wall Street Zen lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, UBS Group lowered shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday, August 5th. Three research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock 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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