Mediolanum International Funds Ltd Makes New Investment in Novo Nordisk A/S (NYSE:NVO)

Mediolanum International Funds Ltd acquired a new position in shares of Novo Nordisk A/S (NYSE:NVO) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 828,479 shares of the company’s stock, valued at approximately $98,765,000. Novo Nordisk A/S accounts for about 1.3% of Mediolanum International Funds Ltd’s holdings, making the stock its 14th biggest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in Novo Nordisk A/S by 10.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after purchasing an additional 823,036 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Novo Nordisk A/S by 1.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock worth $607,242,000 after buying an additional 58,935 shares during the period. GQG Partners LLC grew its position in shares of Novo Nordisk A/S by 654.6% during the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after buying an additional 3,151,584 shares during the period. Raymond James & Associates grew its position in shares of Novo Nordisk A/S by 1.0% during the 3rd quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock worth $419,939,000 after buying an additional 36,223 shares during the period. Finally, 1832 Asset Management L.P. grew its position in shares of Novo Nordisk A/S by 7.8% during the 1st quarter. 1832 Asset Management L.P. now owns 2,373,029 shares of the company’s stock worth $304,697,000 after buying an additional 172,003 shares during the period. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Down 0.1 %

NYSE NVO traded down $0.09 during trading on Friday, hitting $113.83. The stock had a trading volume of 1,419,117 shares, compared to its average volume of 4,271,650. Novo Nordisk A/S has a 12 month low of $92.94 and a 12 month high of $148.15. The company has a market capitalization of $510.82 billion, a PE ratio of 39.02, a P/E/G ratio of 1.52 and a beta of 0.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The company’s 50-day moving average price is $127.52 and its two-hundred day moving average price is $131.50.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. As a group, sell-side analysts forecast that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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

Analyst Ratings Changes

Several research firms have recently issued reports on NVO. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. Finally, BMO Capital Markets decreased their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.50.

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.