AlTi Global Inc. Buys 5,059 Shares of Novo Nordisk A/S $NVO

AlTi Global Inc. raised its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 90.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 10,648 shares of the company’s stock after purchasing an additional 5,059 shares during the period. AlTi Global Inc.’s holdings in Novo Nordisk A/S were worth $735,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of NVO. Copeland Capital Management LLC grew its holdings in Novo Nordisk A/S by 184.8% during 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 during the period. North Capital Inc. bought a new stake in Novo Nordisk A/S during the first quarter valued at about $27,000. Stone House Investment Management LLC bought a new stake in Novo Nordisk A/S during the first quarter valued at about $30,000. Disciplina Capital Management LLC grew its holdings in Novo Nordisk A/S by 162.3% during the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock valued at $33,000 after purchasing an additional 297 shares during the period. Finally, Dagco Inc. bought a new position in shares of Novo Nordisk A/S in the first quarter worth about $35,000. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

NYSE:NVO opened at $53.02 on Friday. 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 capitalization of $236.74 billion, a P/E ratio of 14.57, a P/E/G ratio of 2.42 and a beta of 0.68. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $114.19. The business’s 50-day moving average is $56.56 and its 200 day moving average is $62.39.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates 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 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 business also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were given a dividend of $0.4119 per share. The ex-dividend date was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio is 22.53%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. BNP Paribas Exane raised Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price objective for the company in a research note on Wednesday, August 13th. Hsbc Global Res raised Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Berenberg Bank raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Wednesday, September 17th. Barclays reaffirmed an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Finally, Sanford C. Bernstein raised Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 9th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.00.

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.