Matthew 25 Management Corp Takes Position in Novo Nordisk A/S $NVO

Matthew 25 Management Corp purchased a new stake in shares of Novo Nordisk A/S (NYSE:NVO) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 41,500 shares of the company’s stock, valued at approximately $2,882,000. Novo Nordisk A/S comprises approximately 1.1% of Matthew 25 Management Corp’s investment portfolio, making the stock its 18th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BIP Wealth LLC raised its position in Novo Nordisk A/S by 3.9% during the 4th quarter. BIP Wealth LLC now owns 3,642 shares of the company’s stock valued at $313,000 after purchasing an additional 138 shares during the last quarter. Xponance Inc. raised its position in Novo Nordisk A/S by 5.0% during the 1st 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 last quarter. Foster Dykema Cabot & Partners LLC raised its position in Novo Nordisk A/S by 3.8% during the 1st 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 last quarter. 180 Wealth Advisors LLC raised its position in Novo Nordisk A/S by 3.6% during the 1st 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 last quarter. Finally, LRI Investments LLC raised its position in Novo Nordisk A/S by 1.4% during the 4th quarter. LRI Investments LLC now owns 13,060 shares of the company’s stock valued at $1,123,000 after purchasing an additional 176 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $53.81 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $240.26 billion, a P/E ratio of 14.78, a PEG ratio of 1.80 and a beta of 0.63. The stock’s 50 day moving average is $64.52 and its 200 day moving average is $70.02. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $139.74.

Novo Nordisk A/S (NYSE:NVO) last posted 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 company had revenue of $11.69 billion for 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%. On average, equities research analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th will be paid a dividend of $0.4119 per share. This represents a yield of 240.0%. The ex-dividend date is Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 45.05%.

Analysts Set New Price Targets

NVO has been the subject of several research reports. Wall Street Zen lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. HSBC lowered 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 report on Thursday, July 31st. Hsbc Global Res lowered Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. BNP Paribas raised Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research report on Wednesday, August 13th. Finally, Barclays reissued an “equal weight” rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Hold” and an average price target of $83.75.

About Novo Nordisk A/S

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.