Novo Nordisk A/S (NYSE:NVO) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 71.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 475,490 shares of the company’s stock after acquiring an additional 198,891 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Novo Nordisk A/S were worth $57,413,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. bought a new position in Novo Nordisk A/S during the 2nd quarter valued at $25,000. Gilliland Jeter Wealth Management LLC lifted its holdings in shares of Novo Nordisk A/S by 200.0% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after buying an additional 120 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Novo Nordisk A/S during the second quarter valued at about $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Novo Nordisk A/S during the first quarter worth about $26,000. Finally, Orion Capital Management LLC bought a new stake in Novo Nordisk A/S in the first quarter worth about $26,000. Institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

NVO has been the topic of several recent research reports. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. BMO Capital Markets reduced their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $144.50.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $113.38 on Friday. The company has a 50-day moving average of $126.61 and a two-hundred day moving average of $131.28. The stock has a market cap of $508.80 billion, a price-to-earnings ratio of 39.09, a PEG ratio of 1.52 and a beta of 0.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. Novo Nordisk A/S has a one year low of $92.94 and a one year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. On average, equities research analysts expect that Novo Nordisk A/S will post 3.01 earnings per share 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. Stockholders of record on Friday, August 16th were issued a dividend of $0.5126 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio is 24.83%.

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.