DSM Capital Partners LLC Acquires 49,175 Shares of Novo Nordisk A/S (NYSE:NVO)

DSM Capital Partners LLC boosted its holdings in Novo Nordisk A/S (NYSE:NVO) by 2.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,056,587 shares of the company’s stock after purchasing an additional 49,175 shares during the period. Novo Nordisk A/S comprises about 2.5% of DSM Capital Partners LLC’s portfolio, making the stock its 12th largest holding. DSM Capital Partners LLC’s holdings in Novo Nordisk A/S were worth $142,809,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NVO. Strategic Investment Solutions Inc. IL grew its position in Novo Nordisk A/S by 2,727.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company’s stock valued at $27,000 after purchasing an additional 300 shares in the last quarter. Copeland Capital Management LLC grew its position in Novo Nordisk A/S by 184.8% in the first 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. bought a new position in shares of Novo Nordisk A/S in the 1st quarter valued at about $27,000. Park Square Financial Group LLC bought a new position in shares of Novo Nordisk A/S in the 4th quarter valued at about $29,000. Finally, Stone House Investment Management LLC acquired a new position in shares of Novo Nordisk A/S during the 1st quarter worth about $30,000. 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 $50.90 on Thursday. The company has a 50 day moving average of $65.84 and a 200-day moving average of $70.91. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $139.74. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The company has a market cap of $227.27 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 1.71 and a beta of 0.63.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The company had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. As a group, equities research analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th will be issued a dividend of $0.4119 per share. This represents a dividend yield of 240.0%. The ex-dividend date of this dividend is Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio is 45.05%.

Wall Street Analyst Weigh In

NVO has been the topic of a number of research analyst reports. BNP Paribas Exane raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 target price on the stock in a report on Wednesday. Wall Street Zen cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Dbs Bank cut shares of Novo Nordisk A/S to a “sell” rating in a report on Friday, April 25th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $64.00 target price (down from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Finally, HSBC cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $57.00 target price on the stock. in a report on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $83.75.

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.