XY Capital Ltd Takes Position in Novo Nordisk A/S $NVO

XY Capital Ltd acquired a new position in shares of Novo Nordisk A/S (NYSE:NVO) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 59,048 shares of the company’s stock, valued at approximately $2,831,000. Novo Nordisk A/S accounts for approximately 2.7% of XY Capital Ltd’s holdings, making the stock its 11th biggest holding.

A number of other hedge funds have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its position in Novo Nordisk A/S by 2,414.4% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 297,881 shares of the company’s stock valued at $14,280,000 after purchasing an additional 286,034 shares during the period. Trust Co. of Vermont purchased a new stake in Novo Nordisk A/S in the second quarter worth $1,250,000. Burkett Asset Management Ltd bought a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at approximately $1,823,000. Myriad Asset Management Advisors LLC purchased a new stake in Novo Nordisk A/S during the 2nd quarter worth about $1,846,000. Finally, Pine Valley Investments Ltd Liability Co bought a new position in Novo Nordisk A/S in the 2nd quarter valued at $2,324,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $46.59 on Friday. The stock has a market cap of $208.02 billion, a PE ratio of 11.39, a PEG ratio of 1.57 and a beta of 0.74. The company’s fifty day moving average is $47.93 and its 200 day moving average is $43.79. Novo Nordisk A/S has a 52 week low of $35.12 and a 52 week high of $64.16. The company has a quick ratio of 0.56, a current ratio of 0.79 and a debt-to-equity ratio of 0.59.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.94 earnings per share (EPS) for the quarter. Novo Nordisk A/S had a net margin of 35.36% and a return on equity of 61.20%. The business had revenue of $11.98 billion during the quarter. Research analysts anticipate that Novo Nordisk A/S will post 3.45 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a dividend, which was paid on Tuesday, August 25th. Investors of record on Monday, August 17th were issued a dividend of $0.5786 per share. The ex-dividend date was Monday, August 17th. This represents a yield of 258.0%. Novo Nordisk A/S’s dividend payout ratio is currently 20.05%.

Analysts Set New Price Targets

NVO has been the subject of a number of research analyst reports. Citigroup reiterated a “neutral” rating on shares of Novo Nordisk A/S in a research report on Monday, July 20th. Zacks Research upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft cut shares of Novo Nordisk A/S from a “hold” rating to a “sell” rating in a research note on Thursday, August 27th. Nordea Equity Research raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Friday, June 19th. Finally, Wall Street Zen cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Four analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.94.

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.