Point72 Europe London LLP Invests $3.53 Million in Novo Nordisk A/S (NYSE:NVO)

Point72 Europe London LLP purchased a new stake in shares of Novo Nordisk A/S (NYSE:NVO) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 24,698 shares of the company’s stock, valued at approximately $3,525,000.

A number of other institutional investors also recently bought and sold shares of NVO. 1620 Investment Advisors Inc. bought a new position in shares of Novo Nordisk A/S in the 2nd quarter worth approximately $25,000. Gilliland Jeter Wealth Management LLC raised its holdings in Novo Nordisk A/S by 200.0% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after purchasing an additional 120 shares in the last quarter. First PREMIER Bank purchased a new position in Novo Nordisk A/S during the first quarter valued at $25,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at $26,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Novo Nordisk A/S in the 1st quarter worth about $26,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $125.48 on Wednesday. The firm has a market cap of $563.10 billion, a P/E ratio of 43.27, a PEG ratio of 1.35 and a beta of 0.42. Novo Nordisk A/S has a twelve month low of $86.96 and a twelve month high of $148.15. 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 company has a 50 day moving average of $132.47 and a 200 day moving average of $133.18.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The business had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. As a group, research analysts expect that Novo Nordisk A/S will post 3.11 EPS for the current fiscal 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 dividend of $0.5126 per share. This represents a yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is currently 24.83%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NVO. Argus lifted their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. BMO Capital Markets lowered their target price on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday, September 16th. Finally, The Goldman Sachs Group began coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price on the stock. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average 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.