Elefante Mark B Has $1.14 Million Stock Holdings in Novo Nordisk A/S $NVO

Elefante Mark B increased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 78.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,528 shares of the company’s stock after purchasing 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 reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. NorthRock Partners LLC acquired a new position in Novo Nordisk A/S in the 2nd quarter valued at approximately $336,000. Delaney Dennis R increased its position in Novo Nordisk A/S by 25.0% in the 2nd quarter. Delaney Dennis R now owns 26,710 shares of the company’s stock valued at $1,844,000 after acquiring an additional 5,350 shares during the period. Yousif Capital Management LLC increased its position in Novo Nordisk A/S by 7.0% in the 2nd quarter. Yousif Capital Management LLC now owns 38,849 shares of the company’s stock valued at $2,681,000 after acquiring an additional 2,553 shares during the period. MGO One Seven LLC increased its position in Novo Nordisk A/S by 183.0% in the 2nd quarter. MGO One Seven LLC now owns 50,154 shares of the company’s stock valued at $3,462,000 after acquiring an additional 32,432 shares during the period. Finally, Hazlett Burt & Watson Inc. increased its position in Novo Nordisk A/S by 14.7% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 11,829 shares of the company’s stock valued at $817,000 after acquiring an additional 1,516 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NVO has been the subject of several recent research reports. BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price target for the company in a research report on Wednesday, August 13th. Hsbc Global Res upgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 9th. Wall Street Zen cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, UBS Group cut shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $77.50.

Novo Nordisk A/S Trading Up 1.0%

NVO opened at $57.51 on Tuesday. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $120.47. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The company has a fifty day moving average of $55.61 and a 200-day moving average of $63.03. The stock has a market cap of $256.76 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 2.58 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $77.51 billion. On average, sell-side analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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

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.