Novo Nordisk A/S (NYSE:NVO) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 2.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 77,494 shares of the company’s stock after acquiring an additional 1,860 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Novo Nordisk A/S were worth $11,061,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of Novo Nordisk A/S by 38.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock worth $9,781,000 after purchasing an additional 26,067 shares in the last quarter. Bank of New Hampshire raised its position in shares of Novo Nordisk A/S by 1,356.8% in the first quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock valued at $1,702,000 after buying an additional 12,347 shares during the last quarter. Cim LLC acquired a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at about $23,547,000. Burford Brothers Inc. acquired a new position in Novo Nordisk A/S during the fourth quarter worth about $1,045,000. Finally, Mark Asset Management LP purchased a new stake in Novo Nordisk A/S during the 4th quarter valued at about $1,035,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Novo Nordisk A/S Stock Down 5.5 %

Shares of NVO opened at $127.51 on Friday. 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 firm has a market cap 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’s 50-day moving average price is $133.13 and its 200 day moving average price 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 posted its quarterly earnings data 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 analysts’ expectations 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 forecast that Novo Nordisk A/S will post 3.11 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were issued a $0.5126 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio is presently 24.83%.

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.