OVERSEA CHINESE BANKING Corp Ltd Grows Holdings in Novo Nordisk A/S $NVO

OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 210.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,444 shares of the company’s stock after buying an additional 40,285 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Novo Nordisk A/S were worth $3,060,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WealthCollab LLC increased its stake in Novo Nordisk A/S by 93.5% during the 4th quarter. WealthCollab LLC now owns 538 shares of the company’s stock worth $27,000 after buying an additional 260 shares during the period. Optas LLC grew its holdings in Novo Nordisk A/S by 12.3% during the 4th quarter. Optas LLC now owns 5,863 shares of the company’s stock worth $298,000 after acquiring an additional 642 shares in the last quarter. Novem Group acquired a new position in Novo Nordisk A/S during the 4th quarter worth $1,014,000. Private Wealth Partners LLC grew its holdings in Novo Nordisk A/S by 15.3% during the 4th quarter. Private Wealth Partners LLC now owns 24,950 shares of the company’s stock worth $1,269,000 after acquiring an additional 3,312 shares in the last quarter. Finally, Summit Financial Wealth Advisors LLC grew its holdings in Novo Nordisk A/S by 83.5% during the 4th quarter. Summit Financial Wealth Advisors LLC now owns 16,392 shares of the company’s stock worth $834,000 after acquiring an additional 7,459 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 0.6%

NYSE NVO opened at $39.19 on Thursday. Novo Nordisk A/S has a one year low of $35.12 and a one year high of $81.44. The company has a 50-day simple moving average of $39.51 and a 200-day simple moving average of $48.00. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.57 and a current ratio of 0.80. The firm has a market capitalization of $174.97 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 9.38 and a beta of 0.73.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. Novo Nordisk A/S had a net margin of 33.03% and a return on equity of 68.91%. The business had revenue of $12.43 billion during the quarter, compared to analyst estimates of $11.97 billion. On average, equities analysts forecast that Novo Nordisk A/S will post 3.34 earnings per share for the current year.

Novo Nordisk A/S Dividend Announcement

The firm also recently declared a dividend, which was paid on Wednesday, April 8th. Stockholders of record on Monday, March 30th were issued a $1.2751 dividend. The ex-dividend date of this dividend was Monday, March 30th. This represents a dividend yield of 723.0%. Novo Nordisk A/S’s payout ratio is 50.43%.

Wall Street Analysts Forecast Growth

NVO has been the subject of several recent analyst reports. Nordea Equity Research lowered shares of Novo Nordisk A/S to a “hold” rating in a report on Tuesday, February 24th. Sanford C. Bernstein initiated coverage on shares of Novo Nordisk A/S in a report on Wednesday, March 18th. They set an “outperform” rating and a $175.00 price objective for the company. CICC Research initiated coverage on shares of Novo Nordisk A/S in a report on Friday, January 9th. They set an “outperform” rating and a $73.50 price objective for the company. Citigroup initiated coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 27th. They set a “neutral” rating for the company. Finally, Zacks Research raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Four equities research analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the company. Based on data from MarketBeat, Novo Nordisk A/S presently has an average rating of “Hold” and an average target price of $65.56.

About Novo Nordisk A/S

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.