J. Safra Sarasin Holding AG Buys New Stake in Novo Nordisk A/S $NVO

J. Safra Sarasin Holding AG purchased a new stake in shares of Novo Nordisk A/S (NYSE:NVO) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 8,500 shares of the company’s stock, valued at approximately $587,000.

A number of other hedge funds have also bought and sold shares of the stock. First Hawaiian Bank increased its stake in Novo Nordisk A/S by 0.6% during the 1st quarter. First Hawaiian Bank now owns 22,401 shares of the company’s stock valued at $1,556,000 after purchasing an additional 142 shares in the last quarter. Anchor Investment Management LLC increased its stake in Novo Nordisk A/S by 1.1% during the 1st quarter. Anchor Investment Management LLC now owns 13,597 shares of the company’s stock valued at $944,000 after purchasing an additional 150 shares in the last quarter. Xponance Inc. increased its stake 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 in the last quarter. Foster Dykema Cabot & Partners LLC increased its stake 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 in the last quarter. Finally, Beacon Financial Group increased its stake in Novo Nordisk A/S by 6.5% during the 1st quarter. Beacon Financial Group now owns 2,884 shares of the company’s stock valued at $200,000 after purchasing an additional 177 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NVO shares. Zacks Research upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Novo Nordisk A/S in a research note on Saturday, September 27th. UBS Group lowered shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 5th. Dbs Bank upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Friday, August 22nd. Finally, HSBC set a $70.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.50.

Novo Nordisk A/S Stock Up 1.6%

NVO stock opened at $59.68 on Friday. The firm has a market cap of $266.45 billion, a PE ratio of 16.39, a P/E/G ratio of 2.28 and a beta of 0.68. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. The firm’s fifty day moving average is $54.92 and its 200 day moving average is $63.73. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $120.56.

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. The company had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. On average, research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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