Richardson Financial Services Inc. Has $425,000 Position in Novo Nordisk A/S (NYSE:NVO)

Richardson Financial Services Inc. grew its stake in Novo Nordisk A/S (NYSE:NVO) by 8.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,975 shares of the company’s stock after buying an additional 228 shares during the period. Richardson Financial Services Inc.’s holdings in Novo Nordisk A/S were worth $425,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Novo Nordisk A/S by 38.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock worth $9,781,000 after purchasing an additional 26,067 shares during the period. Bank of New Hampshire lifted its holdings in Novo Nordisk A/S by 1,356.8% in the first quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock valued at $1,702,000 after buying an additional 12,347 shares during the period. Cim LLC bought a new stake in Novo Nordisk A/S during the fourth quarter valued at $23,547,000. Burford Brothers Inc. acquired a new stake in Novo Nordisk A/S during the 4th quarter worth about $1,045,000. Finally, Mark Asset Management LP acquired a new position in shares of Novo Nordisk A/S in the 4th quarter valued at about $1,035,000. 11.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 target price for the company. BMO Capital Markets lowered their price objective on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday. Finally, Argus upped their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $145.17.

Novo Nordisk A/S Stock Performance

NVO opened at $132.09 on Thursday. The company has a market cap of $592.76 billion, a price-to-earnings ratio of 45.55, a PEG ratio of 1.48 and a beta of 0.42. The company’s fifty day moving average price is $133.52 and its two-hundred 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. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46.

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

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were given 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 payout ratio is 24.83%.

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.