Novo Nordisk A/S $NVO Stock Purchased by Cantor Fitzgerald Investment Advisors L.P.

Cantor Fitzgerald Investment Advisors L.P. grew its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 55.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 333,620 shares of the company’s stock after buying an additional 119,545 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P.’s holdings in Novo Nordisk A/S were worth $12,648,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NVO. Arrowstreet Capital Limited Partnership bought a new position in shares of Novo Nordisk A/S in the first quarter worth about $287,660,000. State Street Corp increased its holdings in Novo Nordisk A/S by 0.6% during the 2nd quarter. State Street Corp now owns 5,869,834 shares of the company’s stock worth $284,565,000 after purchasing an additional 32,641 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Novo Nordisk A/S by 1.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,031,114 shares of the company’s stock worth $193,250,000 after buying an additional 71,684 shares during the period. Royal Bank of Canada increased its stake in shares of Novo Nordisk A/S by 3.2% during the first quarter. Royal Bank of Canada now owns 4,527,779 shares of the company’s stock valued at $166,396,000 after buying an additional 141,376 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Novo Nordisk A/S by 6.7% in the first quarter. Renaissance Technologies LLC now owns 3,397,121 shares of the company’s stock worth $124,844,000 after acquiring an additional 213,443 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $39.22 on Friday. The firm has a market capitalization of $175.14 billion, a P/E ratio of 9.48, a PEG ratio of 1.29 and a beta of 0.76. Novo Nordisk A/S has a 52 week low of $35.12 and a 52 week high of $64.16. The company has a quick ratio of 0.66, a current ratio of 0.87 and a debt-to-equity ratio of 0.55. The company has a 50 day moving average price of $42.87 and a 200 day moving average price of $43.93.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.94 earnings per share for the quarter. Novo Nordisk A/S had a return on equity of 58.61% and a net margin of 35.36%. The business had revenue of $11.98 billion for the quarter. Sell-side analysts expect that Novo Nordisk A/S will post 3.42 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, August 25th. Shareholders of record on Monday, August 17th were issued a $0.5786 dividend. The ex-dividend date of this dividend was Monday, August 17th. This is a negative change from Novo Nordisk A/S’s previous dividend of $1.2751. This represents a yield of 258.0%. Novo Nordisk A/S’s dividend payout ratio is presently 20.05%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group reiterated a “neutral” rating on shares of Novo Nordisk A/S in a research note on Monday, September 21st. Nordea Equity Research upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Friday, June 19th. Barclays reaffirmed a “neutral” rating on shares of Novo Nordisk A/S in a report on Monday, September 7th. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Novo Nordisk A/S in a report on Tuesday, September 29th. Finally, HSBC reissued a “hold” rating on shares of Novo Nordisk A/S in a research report on Thursday, September 10th. Five equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $59.44.

About Novo Nordisk A/S

Novo Nordisk A/S is a Denmark-based global pharmaceutical company focused on treatments for diabetes, obesity and other serious chronic diseases. Its portfolio includes injectable and oral medicines for diabetes, including insulin products and the GLP-1 therapies Ozempic and Rybelsus, as well as the obesity treatment Wegovy.

The company also develops and markets products for rare blood disorders, including hemophilia, along with growth hormone therapies and hormone replacement treatments.