B. Riley Wealth Advisors Inc. Grows Stake in Novo Nordisk A/S (NYSE:NVO)

B. Riley Wealth Advisors Inc. increased its holdings in Novo Nordisk A/S (NYSE:NVO) by 10.2% during the second quarter, Holdings Channel reports. The firm owned 59,506 shares of the company’s stock after acquiring an additional 5,510 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Novo Nordisk A/S were worth $8,494,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NVO. First PREMIER Bank purchased a new position in shares of Novo Nordisk A/S during the first quarter valued at about $25,000. 1620 Investment Advisors Inc. bought a new stake in Novo Nordisk A/S in the 2nd quarter worth approximately $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter worth approximately $26,000. Orion Capital Management LLC bought a new position in shares of Novo Nordisk A/S during the 1st quarter valued at approximately $26,000. Finally, Gilliland Jeter Wealth Management LLC raised its stake in Novo Nordisk A/S by 200.0% during 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 in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday, September 16th. Argus boosted 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 raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 18th. 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 assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Novo Nordisk A/S presently has an average rating of “Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Stock Down 2.8 %

Shares of NYSE NVO opened at $120.76 on Monday. The company 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 firm has a 50-day simple moving average of $131.97 and a two-hundred day simple moving average of $132.98. Novo Nordisk A/S has a 1 year low of $86.96 and a 1 year high of $148.15. 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 (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share (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 for the quarter, compared to analysts’ expectations of $9.91 billion. Research analysts anticipate that Novo Nordisk A/S will post 3.11 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were paid a $0.5126 dividend. This represents a 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%.

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.