Mattern Capital Management LLC Has $906,000 Stock Holdings in Novo Nordisk A/S $NVO

Mattern Capital Management LLC increased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 57.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,127 shares of the company’s stock after buying an additional 4,784 shares during the quarter. Mattern Capital Management LLC’s holdings in Novo Nordisk A/S were worth $906,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. North Capital Inc. acquired a new position in Novo Nordisk A/S in the first quarter worth about $27,000. Copeland Capital Management LLC raised 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 worth $27,000 after purchasing an additional 255 shares in the last quarter. Stone House Investment Management LLC acquired a new position in Novo Nordisk A/S in the first quarter worth about $30,000. Disciplina Capital Management LLC raised its position in Novo Nordisk A/S by 162.3% in the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock worth $33,000 after purchasing an additional 297 shares in the last quarter. Finally, Spirit of America Management Corp NY acquired a new position in Novo Nordisk A/S in the first quarter worth about $35,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NVO opened at $58.77 on Friday. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $120.56. 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 company’s 50 day simple moving average is $55.16 and its 200-day simple moving average is $63.98. The stock has a market capitalization of $262.42 billion, a P/E ratio of 16.15, a price-to-earnings-growth ratio of 2.27 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating the consensus estimate 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 business had revenue of $11.69 billion for the quarter, compared to analysts’ expectations of $77.51 billion. Sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were paid a dividend of $0.4119 per share. This represents a dividend yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio is 22.53%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Dbs Bank raised 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 dropped their price target for the stock from $59.00 to $47.00 in a research report on Monday. Rothschild & Co Redburn raised shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 16th. TD Cowen dropped their price objective on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, August 19th. Finally, Rothschild Redb raised shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.50.

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.