Novo Nordisk A/S (NYSE:NVO) Shares Bought by NewEdge Advisors LLC

NewEdge Advisors LLC lifted its holdings in Novo Nordisk A/S (NYSE:NVO) by 255.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 318,580 shares of the company’s stock after acquiring an additional 228,889 shares during the quarter. NewEdge Advisors LLC’s holdings in Novo Nordisk A/S were worth $45,474,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Bank of New Hampshire grew its position 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 worth $1,702,000 after buying an additional 12,347 shares during the last quarter. Cim LLC acquired a new stake in Novo Nordisk A/S during the 4th quarter worth about $23,547,000. Burford Brothers Inc. purchased a new stake in Novo Nordisk A/S during the fourth quarter valued at about $1,045,000. Mark Asset Management LP acquired a new position in shares of Novo Nordisk A/S in the fourth quarter worth about $1,035,000. Finally, Fox Hill Wealth Management increased its position in shares of Novo Nordisk A/S by 121.3% in the first quarter. Fox Hill Wealth Management now owns 28,320 shares of the company’s stock worth $3,636,000 after acquiring an additional 15,525 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $120.76 on Friday. The firm has a market cap of $541.91 billion, a P/E ratio of 41.64, a PEG ratio of 1.35 and a beta of 0.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. Novo Nordisk A/S has a fifty-two week low of $86.96 and a fifty-two week high of $148.15. The stock’s 50-day moving average is $131.97 and its two-hundred day moving average is $132.99.

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 analysts’ consensus estimates of $0.71 by ($0.06). The firm 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%. Analysts predict that Novo Nordisk A/S will post 3.11 earnings per share 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. Investors of record on Friday, August 16th were issued a $0.5126 dividend. This represents a yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is presently 24.83%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NVO shares. BMO Capital Markets decreased 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. Argus increased their price objective 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. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 18th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday, September 16th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Buy” and an average price target of $145.17.

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.