AlTi Global Inc. Raises Position in Novo Nordisk A/S $NVO

AlTi Global Inc. raised its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 90.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (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 filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NVO. Copeland Capital Management LLC grew its stake in shares of 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 buying an additional 255 shares during the last quarter. North Capital Inc. bought a new position in shares of Novo Nordisk A/S during the first quarter valued at approximately $27,000. Stone House Investment Management LLC bought a new position in shares of Novo Nordisk A/S during the first quarter valued at approximately $30,000. Disciplina Capital Management LLC grew its stake in shares of 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 buying an additional 297 shares during the last quarter. Finally, Dagco Inc. bought a new position in shares of Novo Nordisk A/S during the first quarter valued at approximately $35,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Down 0.4%

Shares of 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 stock has a market capitalization of $236.74 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 2.42 and a beta of 0.68. The stock’s fifty day simple moving average is $56.56 and its two-hundred day simple moving average is $62.39. Novo Nordisk A/S has a 12-month low of $45.05 and a 12-month high of $114.19.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. The business had revenue of $11.69 billion for the quarter, compared to analysts’ expectations of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. As a group, analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced 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. This represents a yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio (DPR) is 22.53%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. BNP Paribas Exane raised Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 target price on the stock 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. Morgan Stanley cut Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and cut their target price for the company from $59.00 to $47.00 in a research note on Monday, September 29th. HSBC set a $70.00 target price on Novo Nordisk A/S in a research note on Wednesday, October 1st. Finally, TD Cowen dropped their price objective on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $76.00.

Novo Nordisk A/S Company 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.