Novo Nordisk A/S $NVO Shares Acquired by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of Novo Nordisk A/S (NYSE:NVO) by 210.3% in the fourth quarter, HoldingsChannel reports. The firm owned 59,444 shares of the company’s stock after acquiring 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital International Investors boosted its stake in Novo Nordisk A/S by 52.4% during the 3rd quarter. Capital International Investors now owns 17,713,424 shares of the company’s stock valued at $982,969,000 after purchasing an additional 6,092,192 shares during the period. Franklin Resources Inc. boosted its stake in Novo Nordisk A/S by 4,190.8% during the 3rd quarter. Franklin Resources Inc. now owns 13,984,789 shares of the company’s stock valued at $776,016,000 after purchasing an additional 13,658,867 shares during the period. Folketrygdfondet boosted its stake in Novo Nordisk A/S by 1.2% during the 3rd quarter. Folketrygdfondet now owns 10,211,913 shares of the company’s stock valued at $566,659,000 after purchasing an additional 117,370 shares during the period. State Street Corp boosted its stake in Novo Nordisk A/S by 1.0% during the 3rd quarter. State Street Corp now owns 6,106,836 shares of the company’s stock valued at $340,125,000 after purchasing an additional 59,153 shares during the period. Finally, Boston Partners acquired a new position in Novo Nordisk A/S during the 3rd quarter valued at about $310,199,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NVO. Nordea Equity Research lowered shares of Novo Nordisk A/S to a “hold” rating in a research note on Tuesday, February 24th. The Goldman Sachs Group reissued a “neutral” rating and set a $41.00 target price (down from $63.00) on shares of Novo Nordisk A/S in a research note on Monday, March 2nd. Zacks Research raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. BMO Capital Markets reissued a “market perform” rating on shares of Novo Nordisk A/S in a research note on Thursday, February 5th. Finally, Wolfe Research initiated coverage on shares of Novo Nordisk A/S in a research note on Thursday, March 26th. They set a “peer perform” rating for the company. Four investment analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $65.56.

Novo Nordisk A/S Stock Down 0.6%

NVO stock opened at $39.19 on Thursday. Novo Nordisk A/S has a 52 week low of $35.12 and a 52 week high of $81.44. The company has a market capitalization of $174.97 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 9.38 and a beta of 0.73. The firm’s 50-day moving average is $39.51 and its two-hundred day moving average is $48.00. The company has a current ratio of 0.80, a quick ratio of 0.57 and a debt-to-equity ratio of 0.61.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Tuesday, February 3rd. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $11.97 billion. On average, analysts forecast that Novo Nordisk A/S will post 3.34 earnings per share for the current fiscal year.

Novo Nordisk A/S Dividend Announcement

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

Novo Nordisk A/S Company Profile

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.