Xponance Inc. Has $380,000 Stake in Novo Nordisk A/S (NYSE:NVO)

Xponance Inc. lifted its position in Novo Nordisk A/S (NYSE:NVO) by 27.6% in the second quarter, HoldingsChannel.com reports. The firm owned 2,665 shares of the company’s stock after acquiring an additional 576 shares during the period. Xponance Inc.’s holdings in Novo Nordisk A/S were worth $380,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Evergreen Capital Management LLC raised its stake in shares of Novo Nordisk A/S by 6.2% in the second quarter. Evergreen Capital Management LLC now owns 29,307 shares of the company’s stock valued at $4,183,000 after purchasing an additional 1,710 shares in the last quarter. Steel Grove Capital Advisors LLC raised its stake in shares of Novo Nordisk A/S by 2.3% in the second quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock valued at $541,000 after purchasing an additional 86 shares in the last quarter. Harmony Asset Management LLC raised its stake in shares of Novo Nordisk A/S by 5.2% in the second quarter. Harmony Asset Management LLC now owns 60,827 shares of the company’s stock valued at $8,682,000 after purchasing an additional 3,002 shares in the last quarter. Cyrus J. Lawrence LLC raised its stake in shares of Novo Nordisk A/S by 1.1% in the second quarter. Cyrus J. Lawrence LLC now owns 64,018 shares of the company’s stock valued at $9,137,000 after purchasing an additional 687 shares in the last quarter. Finally, DRW Securities LLC acquired a new position in shares of Novo Nordisk A/S in the second quarter valued at $1,298,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on NVO. BMO Capital Markets dropped their price objective on 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 note on Tuesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note 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. Based on data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Buy” and an average price target of $145.17.

Novo Nordisk A/S Trading Down 0.9 %

Shares of NYSE NVO opened at $117.95 on Wednesday. Novo Nordisk A/S has a 1-year low of $86.96 and a 1-year high of $148.15. The company has a market cap of $529.30 billion, a PE ratio of 40.67, a P/E/G ratio of 1.35 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average of $131.38 and a two-hundred day moving average of $132.77.

Novo Nordisk A/S (NYSE:NVO) last announced 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). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. As a group, equities analysts expect that Novo Nordisk A/S will post 3.11 earnings per share 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. Shareholders of record on Friday, August 16th were paid 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 is presently 24.83%.

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.