Elefante Mark B Buys 7,263 Shares of Novo Nordisk A/S $NVO

Elefante Mark B increased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 78.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,528 shares of the company’s stock after acquiring an additional 7,263 shares during the quarter. Elefante Mark B’s holdings in Novo Nordisk A/S were worth $1,141,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Hawaiian Bank lifted its stake in shares of Novo Nordisk A/S by 0.6% in the first quarter. First Hawaiian Bank now owns 22,401 shares of the company’s stock valued at $1,556,000 after buying an additional 142 shares in the last quarter. Anchor Investment Management LLC lifted its stake in shares of Novo Nordisk A/S by 1.1% in the first quarter. Anchor Investment Management LLC now owns 13,597 shares of the company’s stock valued at $944,000 after buying an additional 150 shares in the last quarter. Xponance Inc. lifted its stake in shares of Novo Nordisk A/S by 5.0% in the first quarter. Xponance Inc. now owns 3,314 shares of the company’s stock valued at $230,000 after buying an additional 158 shares in the last quarter. Foster Dykema Cabot & Partners LLC lifted its stake in shares of Novo Nordisk A/S by 3.8% in the first quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company’s stock valued at $319,000 after buying an additional 166 shares in the last quarter. Finally, PFG Investments LLC lifted its stake in shares of Novo Nordisk A/S by 1.0% in the first quarter. PFG Investments LLC now owns 18,102 shares of the company’s stock valued at $1,257,000 after buying an additional 178 shares in the last quarter. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Up 1.0%

NVO opened at $57.51 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The company’s 50-day moving average is $55.61 and its 200 day moving average is $63.03. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $120.47. The firm has a market capitalization of $256.76 billion, a P/E ratio of 15.80, a PEG ratio of 2.58 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The company had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. Research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were issued a dividend of $0.4119 per share. This represents a yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio (DPR) is 22.53%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. BNP Paribas Exane raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price objective on the stock in a research note on Wednesday, August 13th. Barclays reaffirmed an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Dbs Bank raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Friday, August 22nd. Rothschild & Co Redburn raised shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 16th. Finally, Morgan Stanley lowered shares of Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and dropped their price target for the company from $59.00 to $47.00 in a research report on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $77.50.

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.