Value Partners Investments Inc. Acquires 35,434 Shares of Novo Nordisk A/S $NVO

Key Points

• Value Partners Investments Inc. increased its stake in Novo Nordisk A/S by 39.1%, acquiring an additional 35,434 shares and bringing its total holdings to 125,959 shares worth approximately $8.7 million.
• Several institutional investors significantly boosted their positions in Novo Nordisk, including Amundi with a 49.1% increase, and Acadian Asset Management, which raised its holdings by 15,919.9%.
• Analysts have varied ratings on Novo Nordisk, with recent upgrades leading to a consensus rating of "Hold" and an average target price of $81.00 for the stock.

Value Partners Investments Inc. lifted its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 39.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,959 shares of the company's stock after purchasing an additional 35,434 shares during the period. Novo Nordisk A/S accounts for about 0.7% of Value Partners Investments Inc.'s portfolio, making the stock its 26th biggest position. Value Partners Investments Inc.'s holdings in Novo Nordisk A/S were worth $8,695,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NVO. Nuveen LLC bought a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at about $370,272,000. Two Sigma Investments LP bought a new stake in shares of Novo Nordisk A/S during the 4th quarter valued at about $158,657,000. Amundi boosted its position in shares of Novo Nordisk A/S by 49.1% during the 1st quarter. Amundi now owns 4,938,507 shares of the company's stock valued at $331,576,000 after purchasing an additional 1,627,051 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Novo Nordisk A/S by 15,919.9% in the first quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company's stock worth $72,523,000 after acquiring an additional 1,038,137 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in Novo Nordisk A/S by 649.0% in the fourth quarter. Two Sigma Advisers LP now owns 1,021,700 shares of the company's stock worth $87,887,000 after acquiring an additional 885,300 shares in the last quarter. 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 $54.94 on Friday. The company has a market cap of $245.31 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 2.06 and a beta of 0.66. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $138.22. The business has a 50 day moving average price of $57.96 and a 200-day moving average price of $66.33. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52.

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 the consensus estimate of $0.93 by $0.04. The firm had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Equities 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 firm also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were given a dividend of $0.4119 per share. This represents a dividend yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S's dividend payout ratio (DPR) is presently 22.53%.

Analysts Set New Price Targets

Several research analysts have issued reports on NVO shares. Sanford C. Bernstein upgraded Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a report on Tuesday, September 9th. Hsbc Global Res lowered Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. TD Cowen cut 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. BNP Paribas upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a report on Wednesday, August 13th. Finally, BNP Paribas Exane upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 price target on the stock in a report on Wednesday, August 13th. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average 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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