Wellington Management Group LLP Raises Holdings in Novo Nordisk A/S $NVO

Key Points

• Wellington Management Group LLP increased its holdings in Novo Nordisk A/S by 23.0%, owning over 1 million shares valued at approximately $70.9 million.
• During the first quarter, other institutional investors also significantly boosted their stakes in Novo Nordisk, with Copeland Capital Management increasing its holdings by 184.8%.
• Novo Nordisk recently reported earnings of $0.97 per share, exceeding expectations, but it also announced a semi-annual dividend of $0.4119 per share with a dividend yield of 240.0%.

Wellington Management Group LLP lifted its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 23.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,021,707 shares of the company's stock after buying an additional 191,272 shares during the quarter. Wellington Management Group LLP's holdings in Novo Nordisk A/S were worth $70,947,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Copeland Capital Management LLC increased its holdings in shares of Novo Nordisk A/S by 184.8% in the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after purchasing an additional 255 shares in the last quarter. North Capital Inc. purchased a new position in Novo Nordisk A/S in the first quarter valued at about $27,000. Park Square Financial Group LLC acquired a new stake in shares of Novo Nordisk A/S during the 4th quarter valued at approximately $29,000. Stone House Investment Management LLC acquired a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at approximately $30,000. Finally, Spirit of America Management Corp NY purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter worth approximately $35,000. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock opened at $56.8910 on Friday. The stock has a market capitalization of $254.02 billion, a P/E ratio of 15.63, a P/E/G ratio of 1.93 and a beta of 0.63. 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's 50-day moving average is $62.57 and its two-hundred day moving average is $69.45.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $11.69 billion for the quarter, compared to the consensus estimate of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. Equities analysts predict 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 will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be paid a dividend of $0.4119 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S's dividend payout ratio is presently 22.53%.

Analysts Set New Price Targets

A number of research firms have commented on NVO. Hsbc Global Res downgraded Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. TD Cowen decreased their price objective on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday. HSBC cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price objective on the stock. in a research note on Thursday, July 31st. UBS Group cut shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 5th. Finally, Zacks Research lowered shares of Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a research report on Wednesday. Three investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock currently 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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