XY Capital Ltd Takes Position in Novo Nordisk A/S $NVO

Key Points

• XY Capital Ltd. bought 59,048 shares of Novo Nordisk worth approximately $2.83 million, making NVO its 11th-largest holding and representing 2.7% of its portfolio.
• Several institutional investors increased their positions, while hedge funds and other institutions collectively own 11.54% of Novo Nordisk.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating from MarketBeat, with 14 Holds, four Buys, one Sell, and a consensus price target of $64.94.

XY Capital Ltd purchased a new stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 59,048 shares of the company's stock, valued at approximately $2,831,000. Novo Nordisk A/S accounts for 2.7% of XY Capital Ltd's portfolio, making the stock its 11th largest holding.

Other hedge funds have also made changes to their positions in the company. Revolve Wealth Partners LLC grew its holdings in Novo Nordisk A/S by 8.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock worth $214,000 after acquiring an additional 200 shares in the last quarter. AQR Capital Management LLC grew its stake in Novo Nordisk A/S by 21.0% during the 1st quarter. AQR Capital Management LLC now owns 62,099 shares of the company's stock worth $4,312,000 after buying an additional 10,758 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Novo Nordisk A/S by 18.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 10,320 shares of the company's stock worth $712,000 after acquiring an additional 1,587 shares during the period. Invesco Ltd. increased its stake in shares of Novo Nordisk A/S by 26.3% in the second quarter. Invesco Ltd. now owns 419,691 shares of the company's stock valued at $28,967,000 after purchasing an additional 87,467 shares during the period. Finally, Gamco Investors INC. ET AL acquired a new position in Novo Nordisk A/S during the 2nd quarter worth $314,000. Hedge funds and other institutional investors own 11.54% of the company's stock.

Wall Street Analyst Weigh In

NVO has been the topic of a number of research reports. Wall Street Zen downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Deutsche Bank Aktiengesellschaft cut shares of Novo Nordisk A/S from a "hold" rating to a "sell" rating in a research report on Thursday, August 27th. Zacks Research upgraded Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Citigroup reissued a "neutral" rating on shares of Novo Nordisk A/S in a research report on Monday, July 20th. Finally, Weiss Ratings upgraded shares of Novo Nordisk A/S from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, August 5th. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $64.94.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $46.59 on Friday. The firm has a 50-day moving average price of $47.93 and a 200 day moving average price of $43.79. The company has a quick ratio of 0.56, a current ratio of 0.79 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $208.02 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.57 and a beta of 0.74. Novo Nordisk A/S has a 12-month low of $35.12 and a 12-month high of $64.16.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $0.94 EPS for the quarter. The company had revenue of $11.98 billion during the quarter. Novo Nordisk A/S had a net margin of 35.36% and a return on equity of 61.20%. Research analysts anticipate that Novo Nordisk A/S will post 3.45 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a dividend, which was paid on Tuesday, August 25th. Investors of record on Monday, August 17th were given a dividend of $0.5786 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a yield of 258.0%. Novo Nordisk A/S's dividend payout ratio is 20.05%.

About Novo Nordisk A/S

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.

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