Callan Capital LLC Boosts Position in Novo Nordisk A/S (NYSE:NVO)

Callan Capital LLC boosted its stake in Novo Nordisk A/S (NYSE:NVO) by 4.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,697 shares of the company’s stock after buying an additional 1,155 shares during the period. Callan Capital LLC’s holdings in Novo Nordisk A/S were worth $3,525,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NVO. First PREMIER Bank acquired a new position in Novo Nordisk A/S during the 1st quarter worth about $25,000. 1620 Investment Advisors Inc. acquired a new position in shares of Novo Nordisk A/S in the second quarter valued at approximately $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Novo Nordisk A/S during the first quarter worth $26,000. Orion Capital Management LLC acquired a new stake in shares of Novo Nordisk A/S in the first quarter valued at $26,000. Finally, Gilliland Jeter Wealth Management LLC boosted its holdings in 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 purchasing an additional 120 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

NVO has been the topic of a number of recent research reports. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday. The Goldman Sachs Group initiated 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. Argus increased their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Finally, BMO Capital Markets cut their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $134.90 on Friday. The stock has a 50 day moving average of $133.43 and a two-hundred day moving average of $133.20. The stock has a market cap of $605.37 billion, a P/E ratio of 46.52, a P/E/G ratio of 1.48 and a beta of 0.42. Novo Nordisk A/S has a twelve month low of $86.96 and a twelve month 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 announced its earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. On average, research analysts forecast that Novo Nordisk A/S will post 3.11 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were paid 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 (DPR) 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.