Graham Capital Management L.P. Makes New Investment in Novo Nordisk A/S $NVO

by · The Markets Daily

Graham Capital Management L.P. bought a new position in Novo Nordisk A/S (NYSE:NVO – Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 16,300 shares of the company’s stock, valued at approximately $1,132,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Revolve Wealth Partners LLC lifted its holdings in shares of Novo Nordisk A/S by 8.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock valued at $214,000 after purchasing an additional 200 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Novo Nordisk A/S by 0.7% in the fourth quarter. AQR Capital Management LLC now owns 51,341 shares of the company’s stock valued at $4,416,000 after purchasing an additional 353 shares in the last quarter. Aptus Capital Advisors LLC lifted its holdings in shares of Novo Nordisk A/S by 86.6% in the fourth quarter. Aptus Capital Advisors LLC now owns 7,041 shares of the company’s stock valued at $606,000 after purchasing an additional 3,267 shares in the last quarter. Ancora Advisors LLC lifted its holdings in shares of Novo Nordisk A/S by 12.8% in the fourth quarter. Ancora Advisors LLC now owns 2,812 shares of the company’s stock valued at $242,000 after purchasing an additional 319 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Novo Nordisk A/S by 9.5% in the fourth quarter. Ameriprise Financial Inc. now owns 1,318,716 shares of the company’s stock valued at $113,301,000 after purchasing an additional 114,228 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Trading Up 0.7%

Novo Nordisk A/S stock opened at $56.75 on Thursday. 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 has a market capitalization of $253.41 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 1.96 and a beta of 0.66. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $138.22. The company’s fifty day moving average price is $59.96 and its two-hundred day moving average price is $67.96.

Novo Nordisk A/S (NYSE:NVO – Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.93 by $0.04. The firm had revenue of $11.69 billion for the quarter, compared to the consensus estimate of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. On average, analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were given a $0.4119 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 22.53%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NVO shares. TD Cowen reduced their price target on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, August 19th. Dbs Bank raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Friday, August 22nd. BNP Paribas raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research report on Wednesday, August 13th. Wall Street Zen lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Hsbc Global Res lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Three equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $81.00.

Check Out Our Latest Stock Analysis on Novo Nordisk A/S

Novo Nordisk A/S Profile

(Free Report)

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.

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