5,410 Shares in Novo Nordisk A/S $NVO Purchased by Capital Management Associates Inc

Capital Management Associates Inc purchased a new position in Novo Nordisk A/S (NYSE:NVO) in the second quarter, Holdings Channel reports. The fund purchased 5,410 shares of the company’s stock, valued at approximately $373,000.

A number of other hedge funds have also bought and sold shares of NVO. Kingstone Capital Partners Texas LLC grew its stake in Novo Nordisk A/S by 301,443.6% in the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock worth $690,560,000 after purchasing an additional 10,001,898 shares in the last quarter. Nuveen LLC acquired a new position in Novo Nordisk A/S in the first quarter valued at approximately $370,272,000. Amundi boosted its stake in Novo Nordisk A/S by 49.1% in the first quarter. Amundi now owns 4,938,507 shares of the company’s stock valued at $331,576,000 after acquiring an additional 1,627,051 shares during the period. Acadian Asset Management LLC boosted its stake in Novo Nordisk A/S by 15,919.9% in the first quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock valued at $72,523,000 after acquiring an additional 1,038,137 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Novo Nordisk A/S by 118.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,594,544 shares of the company’s stock valued at $110,725,000 after acquiring an additional 864,579 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on NVO. Sanford C. Bernstein upgraded Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 9th. Barclays restated an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Morgan Stanley downgraded Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and decreased their target price for the company from $59.00 to $47.00 in a research note on Monday, September 29th. Berenberg Bank upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Wednesday, September 17th. Finally, Rothschild Redb upgraded Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $77.50.

Novo Nordisk A/S Stock Performance

NVO opened at $59.63 on Thursday. The business’s 50 day moving average is $55.03 and its 200-day moving average is $63.45. The stock has a market cap of $266.25 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 2.64 and a beta of 0.68. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $11.69 billion for the quarter, compared to analysts’ expectations 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, analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

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

Novo Nordisk A/S 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.