Novo Nordisk A/S $NVO Shares Acquired by Phoenix Financial Ltd.

Phoenix Financial Ltd. boosted its holdings in Novo Nordisk A/S (NYSE:NVO) by 64.1% in the second quarter, HoldingsChannel.com reports. The firm owned 54,378 shares of the company’s stock after buying an additional 21,247 shares during the quarter. Phoenix Financial Ltd.’s holdings in Novo Nordisk A/S were worth $3,771,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Copeland Capital Management LLC lifted its position in shares of Novo Nordisk A/S by 184.8% during the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock worth $27,000 after buying an additional 255 shares during the last quarter. North Capital Inc. acquired a new stake in Novo Nordisk A/S during the 1st quarter worth $27,000. Stone House Investment Management LLC purchased a new stake in Novo Nordisk A/S in the first quarter valued at $30,000. Disciplina Capital Management LLC boosted its stake in Novo Nordisk A/S by 162.3% in the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock valued at $33,000 after acquiring an additional 297 shares in the last quarter. Finally, Dagco Inc. purchased a new position in shares of Novo Nordisk A/S during the first quarter worth about $35,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

NVO has been the topic of a number of research analyst reports. Barclays reiterated an “equal weight” rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Sanford C. Bernstein raised Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 9th. Wall Street Zen cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Novo Nordisk A/S in a report on Tuesday, October 14th. Finally, Morgan Stanley cut shares of 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 report on Monday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $76.00.

Novo Nordisk A/S Price Performance

NVO stock opened at $54.77 on Wednesday. The stock’s 50 day moving average price is $56.46 and its 200 day moving average price is $62.58. The firm has a market cap of $244.55 billion, a P/E ratio of 15.05, a PEG ratio of 2.53 and a beta of 0.68. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $116.65.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The company had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. On average, sell-side analysts expect 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 announced a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were paid a $0.4119 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s payout ratio is presently 22.53%.

Novo Nordisk A/S 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.