WNY Asset Management LLC has purchased 1,600 shares of Novo Nordisk stock (NVO:NYE), with a total value of $217,000, according to the company’s latest Form 13F filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also reported changes in their holdings of NVO stock. Tsfg LLC and RFP Financial Group LLC acquired new stakes in NVO, valued at $30,000 each during the fourth quarter. Meanwhile, Financial Management Professionals Inc. grew its position in the company by 95% during the third quarter, and Worth Asset Management LLC and Penserra Capital Management LLC acquired new stakes in NVO during the first and third quarters of last year, respectively.
Novo Nordisk Stock Analysis:
As of Wednesday, NVO stock opened at $158.58, with a market capitalization of $358.86 billion. The company’s price-to-earnings ratio is 45.70, and its one-year low is $95.02, while its one-year high is $160.10. NVO’s 50-day and 200-day simple moving averages are $143.78 and $127.81, respectively.
Analysts rate Novo Nordisk stock with a consensus rating of “Strong Buy” and a consensus price target of $150.00 according to Stock Target Advisor.
Quarterly Earnings Review:
In its latest earnings results, released on February 1st, Novo Nordisk A/S reported an EPS of $0.83, beating the consensus estimate of $0.81 by $0.02. The company’s return on equity was 73.39%, and its net margin was 31.44%.
Meanwhile, the company’s revenue for the quarter was $6.60 billion, slightly lower than analyst estimates of $6.74 billion. For the current fiscal year, analysts anticipate that Novo Nordisk A/S will post an earnings per share of 4.48.
NVO Stock Dividend:
NVO recently announced a semi-annual dividend, which was paid on April 4th to shareholders of record on March 27th. The dividend payout increased to $1.1887 per share from $0.58 per share in the previous semi-annual dividend, representing a dividend yield of 0.8%.
Novo Nordisk Stock-Analyst Ratings:
Analysts have recently commented on NVO’s performance, with Cowen raising its price target from $130.00 to $145.00, and JPMorgan Chase & Co. lifting its price objective from $925.00 to $1,100.00, both in December 2016.
Company Profile:
Novo Nordisk A/S, a healthcare company, engages in the research, development, manufacture, and marketing of pharmaceutical products worldwide.
It operates in two segments, Diabetes and Obesity care, and Biopharm. The Diabetes and Obesity care segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral antidiabetic products, obesity, and other chronic diseases. The Biopharmaceuticals segment offers products in the areas of haemophilia, growth disorders, and hormone replacement therapy.
The company collaboration agreements with Gilead Sciences, Inc. Novo Nordisk A/S also has a research collaboration with Lumen Bioscience, Inc. to explore strategies for delivering oral biologics for cardiometabolic disease. The company was founded in 1923 and is headquartered in Bagsvaerd, Denmark.
