Clare Market Investments LLC Boosts Holdings in Novo Nordisk A/S $NVO

Clare Market Investments LLC lifted its stake in Novo Nordisk A/S (NYSE:NVO) by 114.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 23,035 shares of the company’s stock after acquiring an additional 12,287 shares during the quarter. Clare Market Investments LLC’s holdings in Novo Nordisk A/S were worth $1,590,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Acadian Asset Management LLC lifted its holdings in shares of Novo Nordisk A/S by 15,919.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock worth $72,523,000 after acquiring an additional 1,038,137 shares during the last quarter. North Star Investment Management Corp. lifted its holdings in shares of Novo Nordisk A/S by 18.2% in the 1st quarter. North Star Investment Management Corp. now owns 20,742 shares of the company’s stock worth $1,440,000 after acquiring an additional 3,200 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Novo Nordisk A/S by 10.2% in the 1st quarter. Rhumbline Advisers now owns 63,539 shares of the company’s stock worth $4,412,000 after acquiring an additional 5,898 shares during the last quarter. Eldred Rock Partners LLC lifted its holdings in shares of Novo Nordisk A/S by 72.0% in the 2nd quarter. Eldred Rock Partners LLC now owns 165,219 shares of the company’s stock worth $11,403,000 after acquiring an additional 69,184 shares during the last quarter. Finally, Cim LLC lifted its holdings in shares of Novo Nordisk A/S by 4.0% in the 1st quarter. Cim LLC now owns 220,221 shares of the company’s stock worth $15,292,000 after acquiring an additional 8,398 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on NVO. Wall Street Zen lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Rothschild & Co Redburn upgraded shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday. Barclays reiterated an “equal weight” rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Hsbc Global Res lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Finally, TD Cowen reduced their target price on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S has an average rating of “Hold” and a consensus target price of $81.00.

Novo Nordisk A/S Trading Up 6.3%

Shares of Novo Nordisk A/S stock opened at $61.86 on Friday. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $135.20. 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 company has a market capitalization of $276.22 billion, a P/E ratio of 17.00, a PEG ratio of 2.21 and a beta of 0.66. The company’s fifty day moving average is $57.03 and its two-hundred day moving average is $65.62.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping 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 company had revenue of $11.69 billion for the quarter, compared to the consensus estimate of $77.51 billion. Analysts forecast 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. Stockholders of record on Monday, August 18th were paid a $0.4119 dividend. This represents a dividend yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio (DPR) is 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.