SouthState Corp Grows Stake in Novo Nordisk A/S (NYSE:NVO)

SouthState Corp increased its stake in Novo Nordisk A/S (NYSE:NVO) by 1.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,986 shares of the company’s stock after acquiring an additional 735 shares during the period. SouthState Corp’s holdings in Novo Nordisk A/S were worth $3,471,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL lifted its stake in Novo Nordisk A/S by 2,727.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company’s stock worth $27,000 after purchasing an additional 300 shares during the last quarter. Copeland Capital Management LLC lifted its stake in Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock worth $27,000 after purchasing an additional 255 shares during the last quarter. North Capital Inc. bought a new stake in Novo Nordisk A/S in the first quarter worth about $27,000. Park Square Financial Group LLC bought a new stake in Novo Nordisk A/S in the fourth quarter worth about $29,000. Finally, Transce3nd LLC bought a new stake in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NYSE:NVO opened at $51.06 on Monday. The firm has a 50 day moving average of $67.14 and a 200 day moving average of $71.47. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $139.74. The company has a market capitalization of $227.98 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 1.75 and a beta of 0.63.

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

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th will be issued a $0.4119 dividend. This represents a yield of 240.0%. The ex-dividend date of this dividend is Monday, August 18th. Novo Nordisk A/S’s payout ratio is currently 45.05%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NVO shares. BMO Capital Markets reaffirmed a “market perform” rating and set a $64.00 price target (down previously from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Guggenheim downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 17th. Barclays reaffirmed an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. BNP Paribas began coverage on shares of Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an “underperform” rating for the company. Finally, Hsbc Global Res downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of “Hold” and a consensus price target of $93.67.

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.