Dalton Investments Inc. Takes Position in Novo Nordisk A/S (NYSE:NVO)

Dalton Investments Inc. purchased a new position in shares of Novo Nordisk A/S (NYSE:NVO) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 9,100 shares of the company’s stock, valued at approximately $1,299,000. Novo Nordisk A/S accounts for 0.7% of Dalton Investments Inc.’s holdings, making the stock its 18th biggest position.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. 1620 Investment Advisors Inc. acquired a new position in shares of Novo Nordisk A/S during the second quarter worth approximately $25,000. Gilliland Jeter Wealth Management LLC raised its holdings in Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after buying an additional 120 shares during the last quarter. First PREMIER Bank bought a new position in shares of Novo Nordisk A/S in the first quarter valued at $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Novo Nordisk A/S during the first quarter valued at about $26,000. Finally, Orion Capital Management LLC bought a new stake in shares of Novo Nordisk A/S during the first quarter worth about $26,000. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $127.51 on Friday. The firm has a market capitalization of $572.21 billion, a P/E ratio of 43.97, a price-to-earnings-growth ratio of 1.48 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $133.13 and its 200 day simple moving average is $133.26. Novo Nordisk A/S has a 12 month low of $86.96 and a 12 month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. As a group, analysts anticipate that Novo Nordisk A/S will post 3.11 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were paid a dividend of $0.5126 per share. The ex-dividend date was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s payout ratio is currently 24.83%.

Analyst Ratings Changes

Several equities analysts recently weighed in on NVO shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday, September 16th. BMO Capital Markets cut their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. The Goldman Sachs Group assumed coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target for the company. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Argus upped their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $145.17.

About Novo Nordisk A/S

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.