Global X Japan Co. Ltd. Buys 1,516 Shares of Novo Nordisk A/S (NYSE:NVO)

Global X Japan Co. Ltd. grew its stake in Novo Nordisk A/S (NYSE:NVO) by 10.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,780 shares of the company’s stock after purchasing an additional 1,516 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Novo Nordisk A/S were worth $1,879,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NVO. RMR Wealth Builders bought a new position in shares of Novo Nordisk A/S during the 1st quarter worth approximately $302,000. Future Financial Wealth Managment LLC bought a new stake in Novo Nordisk A/S during the first quarter worth $128,000. Sunpointe LLC boosted its position in Novo Nordisk A/S by 5.8% in the first quarter. Sunpointe LLC now owns 6,757 shares of the company’s stock worth $874,000 after purchasing an additional 372 shares during the last quarter. DGS Capital Management LLC grew its stake in Novo Nordisk A/S by 2.8% in the 1st quarter. DGS Capital Management LLC now owns 42,888 shares of the company’s stock valued at $5,507,000 after purchasing an additional 1,151 shares during the period. Finally, S.A. Mason LLC increased its position in shares of Novo Nordisk A/S by 33.7% during the 1st quarter. S.A. Mason LLC now owns 9,628 shares of the company’s stock valued at $1,236,000 after purchasing an additional 2,428 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

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

Novo Nordisk A/S Stock Down 0.7 %

Novo Nordisk A/S stock opened at $116.46 on Wednesday. The firm has a 50 day simple moving average of $127.89 and a 200 day simple moving average of $131.61. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a 1-year low of $92.94 and a 1-year high of $148.15. The firm has a market capitalization of $522.62 billion, a price-to-earnings ratio of 39.88, a P/E/G ratio of 1.54 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last announced 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). The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. On average, analysts predict that Novo Nordisk A/S will post 3.01 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were issued a $0.5126 dividend. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s payout ratio is 24.66%.

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.