Founders Financial Securities LLC Grows Stake in Novo Nordisk A/S (NYSE:NVO)

Founders Financial Securities LLC grew its position in Novo Nordisk A/S (NYSE:NVO) by 119.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,709 shares of the company’s stock after purchasing an additional 2,017 shares during the quarter. Founders Financial Securities LLC’s holdings in Novo Nordisk A/S were worth $529,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NVO. Folketrygdfondet lifted its stake in shares of Novo Nordisk A/S by 1.4% during the first quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock worth $1,124,275,000 after buying an additional 124,770 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Novo Nordisk A/S by 10.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after buying an additional 823,036 shares during the period. Capital International Investors lifted its stake in shares of Novo Nordisk A/S by 22.3% during the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after buying an additional 1,297,536 shares during the period. GQG Partners LLC lifted its stake in shares of Novo Nordisk A/S by 654.6% during the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after buying an additional 3,151,584 shares during the period. Finally, 1832 Asset Management L.P. lifted its stake in shares of Novo Nordisk A/S by 7.8% during the first quarter. 1832 Asset Management L.P. now owns 2,373,029 shares of the company’s stock worth $304,697,000 after buying an additional 172,003 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Argus lifted their price objective on shares of 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. The Goldman Sachs Group assumed coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price for the company. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. BMO Capital Markets decreased 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. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $145.17.

Novo Nordisk A/S Trading Down 2.7 %

Shares of Novo Nordisk A/S stock opened at $130.87 on Friday. The company has a market cap of $587.28 billion, a P/E ratio of 45.13, a price-to-earnings-growth ratio of 1.52 and a beta of 0.42. The firm has a 50-day simple moving average of $135.03 and a two-hundred day simple moving average of $132.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. Novo Nordisk A/S has a fifty-two week low of $86.96 and a fifty-two week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released 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). The company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. As a group, equities 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 business also recently announced 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 is currently 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.