Ramirez Asset Management Inc. Raises Position in Novo Nordisk A/S $NVO

Ramirez Asset Management Inc. raised its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 26.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,948 shares of the company’s stock after acquiring an additional 5,826 shares during the quarter. Ramirez Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $1,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of NVO. Kingstone Capital Partners Texas LLC boosted its stake in shares of Novo Nordisk A/S by 301,443.6% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock worth $690,560,000 after acquiring an additional 10,001,898 shares during the last quarter. Nuveen LLC purchased a new position in shares of Novo Nordisk A/S during the 1st quarter worth $370,272,000. Amundi boosted its stake in shares of Novo Nordisk A/S by 49.1% during the 1st quarter. Amundi now owns 4,938,507 shares of the company’s stock worth $331,576,000 after acquiring an additional 1,627,051 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Novo Nordisk A/S by 15,919.9% during 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. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Novo Nordisk A/S by 118.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,594,544 shares of the company’s stock worth $110,725,000 after acquiring an additional 864,579 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 9th. Wall Street Zen downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. HSBC set a $70.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, October 1st. Barclays reaffirmed an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Novo Nordisk A/S in a research note on Saturday, September 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and an average price target of $77.50.

Novo Nordisk A/S Trading Down 1.6%

Shares of Novo Nordisk A/S stock opened at $58.64 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. Novo Nordisk A/S has a 12-month low of $45.05 and a 12-month high of $120.56. The firm has a market capitalization of $261.83 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 2.70 and a beta of 0.68. The firm’s 50 day simple moving average is $55.26 and its two-hundred day simple moving average is $63.33.

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

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were issued a dividend of $0.4119 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio is 22.53%.

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.