Novo Nordisk A/S (NYSE:NVO) Position Increased by OLD National Bancorp IN

OLD National Bancorp IN raised its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 30.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,399 shares of the company’s stock after purchasing an additional 1,027 shares during the period. OLD National Bancorp IN’s holdings in Novo Nordisk A/S were worth $524,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its stake in Novo Nordisk A/S by 10.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock valued at $1,102,857,000 after purchasing an additional 823,036 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Novo Nordisk A/S by 1.4% during the second quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock worth $607,242,000 after acquiring an additional 58,935 shares during the last quarter. GQG Partners LLC grew its position in shares of Novo Nordisk A/S by 654.6% during the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after acquiring an additional 3,151,584 shares during the last quarter. Raymond James & Associates grew its position in shares of Novo Nordisk A/S by 1.0% during the third quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock worth $419,939,000 after acquiring an additional 36,223 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its position in shares of Novo Nordisk A/S by 7.8% during the first quarter. 1832 Asset Management L.P. now owns 2,373,029 shares of the company’s stock worth $304,697,000 after acquiring an additional 172,003 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NVO stock opened at $116.46 on Wednesday. The company has a market capitalization of $522.62 billion, a P/E ratio of 40.16, a PEG ratio of 1.56 and a beta of 0.42. The company has a 50-day simple moving average of $127.89 and a 200 day simple moving average of $131.61. 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 quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

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 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 company had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. Sell-side analysts predict that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were issued 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 24.83%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on NVO shares. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. BMO Capital Markets lowered their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.50.

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.