11,089 Shares in Novo Nordisk A/S (NYSE:NVO) Acquired by Verde Capital Management

Verde Capital Management acquired a new stake in Novo Nordisk A/S (NYSE:NVO) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,089 shares of the company’s stock, valued at approximately $1,320,000.

A number of other hedge funds also recently made changes to their positions in NVO. GQG Partners LLC boosted its stake in shares of Novo Nordisk A/S by 654.6% in the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after purchasing an additional 3,151,584 shares during the period. DSM Capital Partners LLC grew its stake in shares of Novo Nordisk A/S by 257,816.0% during the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after acquiring an additional 1,593,303 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Novo Nordisk A/S by 1,300.8% during the first quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock worth $159,703,000 after acquiring an additional 1,155,313 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Novo Nordisk A/S by 10.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after acquiring an additional 823,036 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in Novo Nordisk A/S by 34,472.1% in the second quarter. Marshall Wace LLP now owns 691,441 shares of the company’s stock valued at $98,696,000 after purchasing an additional 689,441 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

NVO has been the topic of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. BMO Capital Markets cut their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and an average target price of $144.50.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $118.09 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm has a 50-day simple moving average of $128.48 and a 200 day simple moving average of $131.69. Novo Nordisk A/S has a fifty-two week low of $92.94 and a fifty-two week high of $148.15. The company has a market cap of $529.93 billion, a PE ratio of 40.44, a P/E/G ratio of 1.56 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. On average, sell-side analysts anticipate that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were paid a $0.5126 dividend. This represents a yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s payout ratio is 24.66%.

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.