Whittier Trust Co. Increases Stock Holdings in Novo Nordisk A/S $NVO

Key Points

• Whittier Trust Co. increased its stake in Novo Nordisk A/S by 8.4% in Q2, now holding 66,181 shares valued at approximately $4.57 million.
• Numerous hedge funds have adjusted their positions in Novo Nordisk, with institutional investors owning 11.54% of the stock.
• A consensus rating for Novo Nordisk A/S is a Moderate Buy with a target price estimated at $76.00, despite varying opinions from analysts.

Whittier Trust Co. raised its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 8.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,181 shares of the company's stock after purchasing an additional 5,101 shares during the period. Whittier Trust Co.'s holdings in Novo Nordisk A/S were worth $4,568,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. North Capital Inc. purchased a new position in Novo Nordisk A/S in the first quarter valued at approximately $27,000. Copeland Capital Management LLC grew its position in shares of Novo Nordisk A/S by 184.8% during 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. Stone House Investment Management LLC purchased a new position in shares of Novo Nordisk A/S during the first quarter worth approximately $30,000. Disciplina Capital Management LLC grew its position in shares of Novo Nordisk A/S by 162.3% during the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company's stock worth $33,000 after acquiring an additional 297 shares during the last quarter. Finally, Dagco Inc. purchased a new position in shares of Novo Nordisk A/S during the first quarter worth approximately $35,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. HSBC set a $70.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, October 1st. TD Cowen lowered 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 research report 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 report on Friday, August 22nd. Morgan Stanley lowered shares of Novo Nordisk A/S from an "overweight" rating to an "underweight" rating and lowered their target price for the stock from $59.00 to $47.00 in a research report on Monday, September 29th. Finally, Rothschild & Co Redburn upgraded shares of Novo Nordisk A/S from a "neutral" rating to a "buy" rating in a research report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $76.00.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $54.77 on Wednesday. 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 stock has a fifty day moving average price of $56.46 and a 200 day moving average price of $62.58. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $116.65. The company has a market cap of $244.55 billion, a PE ratio of 15.05, a P/E/G ratio of 2.53 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share 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%. Sell-side analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were given a $0.4119 dividend. The ex-dividend date was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S's dividend payout ratio is presently 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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