Verde Capital Management Grows Stock Holdings in Novo Nordisk A/S $NVO

Key Points

• Verde Capital Management increased its holdings in Novo Nordisk A/S by 15.2% during the second quarter, owning 42,837 shares valued at approximately $2.96 million.
• Several institutional investors also increased their stakes in Novo Nordisk, with 11.54% of the stock owned by hedge funds and other institutional investors.
• Research analysts have recently downgraded Novo Nordisk A/S, with HSBC and UBS Group changing their ratings from "buy" to "hold" and "neutral," respectively.

Verde Capital Management grew its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 15.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,837 shares of the company's stock after buying an additional 5,639 shares during the quarter. Novo Nordisk A/S accounts for 0.7% of Verde Capital Management's portfolio, making the stock its 29th largest position. Verde Capital Management's holdings in Novo Nordisk A/S were worth $2,957,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. First Hawaiian Bank grew its stake in Novo Nordisk A/S by 0.6% during the first quarter. First Hawaiian Bank now owns 22,401 shares of the company's stock worth $1,556,000 after buying an additional 142 shares during the period. Anchor Investment Management LLC boosted its stake in shares of Novo Nordisk A/S by 1.1% in the first quarter. Anchor Investment Management LLC now owns 13,597 shares of the company's stock valued at $944,000 after purchasing an additional 150 shares during the period. Xponance Inc. boosted its stake in shares of Novo Nordisk A/S by 5.0% in the first quarter. Xponance Inc. now owns 3,314 shares of the company's stock valued at $230,000 after purchasing an additional 158 shares during the period. Foster Dykema Cabot & Partners LLC boosted its stake in shares of Novo Nordisk A/S by 3.8% in the first quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company's stock valued at $319,000 after purchasing an additional 166 shares during the period. Finally, 180 Wealth Advisors LLC boosted its stake in shares of Novo Nordisk A/S by 3.6% in the first quarter. 180 Wealth Advisors LLC now owns 5,014 shares of the company's stock valued at $348,000 after purchasing an additional 173 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NVO shares. HSBC downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 target price for the company. in a research note on Thursday, July 31st. UBS Group downgraded shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research note on Tuesday, August 5th. TD Cowen decreased their target price on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, August 19th. Dbs Bank upgraded shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research note on Friday, August 22nd. 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. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Novo Nordisk A/S has an average rating of "Hold" and an average target price of $81.00.

Novo Nordisk A/S Trading Up 1.2%

NVO opened at $54.94 on Friday. The stock has a market capitalization of $245.31 billion, a PE ratio of 15.09, a P/E/G ratio of 2.06 and a beta of 0.66. The firm's fifty day moving average price is $57.96 and its 200 day moving average price is $66.33. 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 has a 12-month low of $45.05 and a 12-month high of $138.22.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. The firm 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, research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were issued 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 is 22.53%.

Novo Nordisk A/S Company 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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