Armstrong Fleming & Moore Inc purchased a new stake in Novo Nordisk A/S (NYSE:NVO - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,306 shares of the company's stock, valued at approximately $366,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. InTrack Investment Management Inc acquired a new position in shares of Novo Nordisk A/S in the second quarter valued at approximately $465,000. Notis McConarty Edward boosted its holdings in shares of Novo Nordisk A/S by 329.7% during the 2nd quarter. Notis McConarty Edward now owns 18,950 shares of the company's stock worth $1,308,000 after buying an additional 14,540 shares in the last quarter. Capital Management Associates Inc bought a new position in shares of Novo Nordisk A/S during the 2nd quarter worth approximately $373,000. Dempze Nancy E raised its position in shares of Novo Nordisk A/S by 64.3% during the second quarter. Dempze Nancy E now owns 14,678 shares of the company's stock worth $1,013,000 after purchasing an additional 5,743 shares during the period. Finally, Guild Investment Management Inc. raised its position in shares of Novo Nordisk A/S by 20.7% during the second quarter. Guild Investment Management Inc. now owns 36,995 shares of the company's stock worth $2,553,000 after purchasing an additional 6,345 shares during the period. Institutional investors and hedge funds own 11.54% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on NVO. Rothschild & Co Redburn raised Novo Nordisk A/S from a "neutral" rating to a "buy" rating in a research report on Tuesday, September 16th. HSBC set a $70.00 price target on Novo Nordisk A/S in a research report on Wednesday, October 1st. Sanford C. Bernstein raised Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a research report on Tuesday, September 9th. Dbs Bank raised Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a report on Friday, August 22nd. Finally, Hsbc Global Res raised Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Novo Nordisk A/S has a consensus rating of "Moderate Buy" and a consensus price target of $77.50.
Get Our Latest Stock Report on Novo Nordisk A/S
Novo Nordisk A/S Stock Up 1.0%
NVO stock opened at $59.63 on Thursday. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $120.56. The business's 50-day moving average is $55.03 and its two-hundred day moving average is $63.45. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. The company has a market cap of $266.25 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 2.64 and a beta of 0.68.
Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. The company had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. As a group, analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current year.
Novo Nordisk A/S Cuts Dividend
The firm also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were given a dividend of $0.4119 per share. The ex-dividend date was Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S's dividend payout ratio (DPR) is currently 22.53%.
About Novo Nordisk A/S
(
Free Report)
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.
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