Bank Hapoalim BM Raises Stock Holdings in Novo Nordisk A/S $NVO

Bank Hapoalim BM increased its position in Novo Nordisk A/S (NYSE:NVO) by 23.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,750 shares of the company’s stock after purchasing an additional 5,215 shares during the period. Bank Hapoalim BM’s holdings in Novo Nordisk A/S were worth $1,915,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Unified Investment Management purchased a new stake in Novo Nordisk A/S in the second quarter worth $692,000. Acadian Asset Management LLC grew its stake in Novo Nordisk A/S by 15,919.9% in the first quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock worth $72,523,000 after purchasing an additional 1,038,137 shares during the period. Norden Group LLC grew its stake in Novo Nordisk A/S by 216.3% in the second quarter. Norden Group LLC now owns 96,332 shares of the company’s stock worth $6,649,000 after purchasing an additional 65,877 shares during the period. Farther Finance Advisors LLC grew its stake in Novo Nordisk A/S by 48.7% in the second quarter. Farther Finance Advisors LLC now owns 103,138 shares of the company’s stock worth $7,119,000 after purchasing an additional 33,794 shares during the period. Finally, Ridgewood Investments LLC grew its stake in shares of Novo Nordisk A/S by 205.4% in the second quarter. Ridgewood Investments LLC now owns 6,627 shares of the company’s stock worth $457,000 after acquiring an additional 4,457 shares during the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Up 1.6%

Novo Nordisk A/S stock opened at $59.68 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $120.56. The stock has a market capitalization of $266.45 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 2.25 and a beta of 0.68. The business’s fifty day moving average is $54.92 and its 200 day moving average is $63.84.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $77.51 billion. On average, sell-side analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were issued 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 dividend payout ratio is currently 22.53%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NVO. HSBC set a $70.00 target price on Novo Nordisk A/S in a research note on Wednesday. Barclays reissued an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. TD Cowen cut their target price on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, August 19th. Weiss Ratings reissued a “hold (c-)” rating on shares of Novo Nordisk A/S in a research note on Saturday, September 27th. Finally, Dbs Bank raised Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.50.

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.