Dimension Capital Management LLC Takes $279,000 Position in Novo Nordisk A/S (NYSE:NVO)

Dimension Capital Management LLC bought a new stake in Novo Nordisk A/S (NYSE:NVO) in the 2nd quarter, Holdings Channel.com reports. The fund bought 1,958 shares of the company’s stock, valued at approximately $279,000.

Other large investors also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. acquired a new stake in Novo Nordisk A/S during the 2nd quarter worth approximately $25,000. Gilliland Jeter Wealth Management LLC lifted its position in shares of Novo Nordisk A/S by 200.0% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after acquiring an additional 120 shares during the period. First PREMIER Bank bought a new position in Novo Nordisk A/S in the first quarter valued at approximately $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Novo Nordisk A/S during the first quarter worth about $26,000. Finally, Orion Capital Management LLC acquired a new position in Novo Nordisk A/S in the 1st quarter worth about $26,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $126.95 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The firm’s 50 day simple moving average is $132.47 and its two-hundred day simple moving average is $133.18. The company has a market capitalization of $569.69 billion, a P/E ratio of 43.78, a P/E/G ratio of 1.35 and a beta of 0.42. 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 released its quarterly earnings data 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 net margin of 34.86% and a return on equity of 87.43%. The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. Research analysts expect that Novo Nordisk A/S will post 3.11 EPS for the current fiscal 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 paid a dividend of $0.5126 per share. The ex-dividend date was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio is presently 24.83%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NVO. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 18th. Argus lifted their target price on 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 set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, September 16th. The Goldman Sachs Group assumed coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price on the stock. Finally, BMO Capital Markets cut 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 research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $145.17.

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.