Concorde Asset Management LLC Increases Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Concorde Asset Management LLC raised its holdings in Novo Nordisk A/S (NYSE:NVO) by 7.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,915 shares of the company’s stock after buying an additional 356 shares during the quarter. Concorde Asset Management LLC’s holdings in Novo Nordisk A/S were worth $702,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NVO. LJI Wealth Management LLC grew its holdings in shares of Novo Nordisk A/S by 3.5% during the second quarter. LJI Wealth Management LLC now owns 4,380 shares of the company’s stock valued at $625,000 after buying an additional 150 shares during the last quarter. Carolinas Wealth Consulting LLC lifted its position in Novo Nordisk A/S by 1,808.6% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 1,107 shares of the company’s stock worth $158,000 after acquiring an additional 1,049 shares during the period. Gardner Lewis Asset Management L P grew its stake in Novo Nordisk A/S by 35.3% during the 2nd quarter. Gardner Lewis Asset Management L P now owns 18,995 shares of the company’s stock valued at $2,711,000 after purchasing an additional 4,955 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Novo Nordisk A/S by 19.4% in the second quarter. Hsbc Holdings PLC now owns 54,804 shares of the company’s stock valued at $7,852,000 after purchasing an additional 8,922 shares during the period. Finally, Waterloo Capital L.P. purchased a new position in shares of Novo Nordisk A/S in the second quarter worth about $480,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

NVO has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday. 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. BMO Capital Markets reduced their target price 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. Argus boosted their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $145.17.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO opened at $132.09 on Thursday. The company has a market capitalization of $592.76 billion, a PE ratio of 45.55, a price-to-earnings-growth ratio of 1.48 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 fifty day moving average price is $133.52 and its 200 day moving average price is $133.19. Novo Nordisk A/S has a 1 year low of $86.96 and a 1 year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (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 firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. On average, research analysts predict that Novo Nordisk A/S will post 3.11 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

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