Novo Nordisk A/S (NYSE:NVO) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. raised its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 2.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 249,804 shares of the company’s stock after buying an additional 6,844 shares during the quarter. QRG Capital Management Inc.’s holdings in Novo Nordisk A/S were worth $29,744,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Ground Swell Capital LLC acquired a new stake in shares of Novo Nordisk A/S during the third quarter worth $377,000. Forum Financial Management LP boosted its holdings in shares of Novo Nordisk A/S by 1.1% during the third quarter. Forum Financial Management LP now owns 23,678 shares of the company’s stock worth $2,819,000 after purchasing an additional 257 shares during the last quarter. BSW Wealth Partners boosted its holdings in shares of Novo Nordisk A/S by 4.2% during the third quarter. BSW Wealth Partners now owns 9,083 shares of the company’s stock worth $1,082,000 after purchasing an additional 369 shares during the last quarter. Nvwm LLC boosted its holdings in shares of Novo Nordisk A/S by 1.1% during the third quarter. Nvwm LLC now owns 11,795 shares of the company’s stock worth $1,404,000 after purchasing an additional 131 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Novo Nordisk A/S by 15.1% during the third quarter. Van ECK Associates Corp now owns 492,467 shares of the company’s stock worth $56,998,000 after purchasing an additional 64,635 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO traded down $1.97 during mid-day trading on Monday, hitting $109.97. The company had a trading volume of 994,579 shares, compared to its average volume of 4,348,879. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The business’s 50-day simple moving average is $124.25 and its 200-day simple moving average is $130.94. Novo Nordisk A/S has a 12 month low of $94.73 and a 12 month high of $148.15. The firm has a market cap of $493.49 billion, a P/E ratio of 38.34, a PEG ratio of 1.46 and a beta of 0.43.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. As a group, 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 announced a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were paid a $0.5126 dividend. The ex-dividend date was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.66%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. BMO Capital Markets cut their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target 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.