Sunbelt Securities Inc. Grows Position in Novo Nordisk A/S (NYSE:NVO)

Sunbelt Securities Inc. lifted its stake in Novo Nordisk A/S (NYSE:NVO) by 1.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,752 shares of the company’s stock after buying an additional 138 shares during the quarter. Sunbelt Securities Inc.’s holdings in Novo Nordisk A/S were worth $1,535,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of NVO. Aveo Capital Partners LLC bought a new stake in Novo Nordisk A/S in the fourth quarter worth $205,000. 9258 Wealth Management LLC increased its position in Novo Nordisk A/S by 4.0% in the fourth quarter. 9258 Wealth Management LLC now owns 2,513 shares of the company’s stock worth $260,000 after purchasing an additional 97 shares during the last quarter. Rollins Financial increased its position in Novo Nordisk A/S by 10.4% in the fourth quarter. Rollins Financial now owns 3,894 shares of the company’s stock worth $403,000 after purchasing an additional 368 shares during the last quarter. Gryphon Financial Partners LLC bought a new stake in Novo Nordisk A/S in the fourth quarter worth $237,000. Finally, Hsbc Holdings PLC increased its position in Novo Nordisk A/S by 5.6% in the fourth quarter. Hsbc Holdings PLC now owns 66,520 shares of the company’s stock worth $6,881,000 after purchasing an additional 3,534 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. BMO Capital Markets cut their price objective on shares of 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday, September 16th. Finally, Argus boosted their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. One equities 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Stock Down 1.4 %

Shares of NVO opened at $119.05 on Tuesday. The firm has a market capitalization of $534.24 billion, a P/E ratio of 41.05, a P/E/G ratio of 1.35 and a beta of 0.42. Novo Nordisk A/S has a 12-month low of $86.96 and a 12-month high of $148.15. 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 firm has a fifty day moving average price of $131.69 and a 200-day moving average price of $132.87.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results 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). 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 net margin of 34.86% and a return on equity of 87.43%. Equities research analysts expect 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 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. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is currently 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.