Meeder Advisory Services Inc. Invests $884,000 in Novo Nordisk A/S (NYSE:NVO)

Meeder Advisory Services Inc. acquired a new stake in Novo Nordisk A/S (NYSE:NVO) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 6,190 shares of the company’s stock, valued at approximately $884,000.

Other hedge funds have also recently bought and sold shares of the company. Aveo Capital Partners LLC acquired a new stake in shares of Novo Nordisk A/S during the fourth quarter worth about $205,000. 9258 Wealth Management LLC boosted its position in Novo Nordisk A/S by 4.0% in the 4th quarter. 9258 Wealth Management LLC now owns 2,513 shares of the company’s stock valued at $260,000 after buying an additional 97 shares during the period. Rollins Financial boosted its position in Novo Nordisk A/S by 10.4% in the 4th quarter. Rollins Financial now owns 3,894 shares of the company’s stock valued at $403,000 after buying an additional 368 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Novo Nordisk A/S by 38.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock worth $9,781,000 after acquiring an additional 26,067 shares during the period. Finally, Gryphon Financial Partners LLC acquired a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at $237,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Ratings Changes

NVO has been the subject of several analyst reports. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 19th. Argus upped their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Monday, September 9th. BMO Capital Markets lowered their price target on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, The Goldman Sachs Group began coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective on the stock. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and an average target price of $145.17.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $137.00 on Friday. The firm has a market capitalization of $614.79 billion, a P/E ratio of 47.24, a P/E/G ratio of 1.48 and a beta of 0.42. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a 52 week low of $86.96 and a 52 week high of $148.15. The firm’s 50 day moving average is $134.03 and its two-hundred day moving average is $132.94.

Novo Nordisk A/S (NYSE:NVO) last announced 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 return on equity of 87.43% and a net margin of 34.86%. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Research analysts forecast that Novo Nordisk A/S will post 3.11 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were issued a $0.5126 dividend. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s payout ratio is currently 24.83%.

Novo Nordisk A/S 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.