Gradient Investments LLC Takes Position in Novo Nordisk A/S $NVO

Key Points

• Gradient Investments LLC recently acquired a new stake in Novo Nordisk A/S, purchasing 12,890 shares valued at approximately $890,000 during the second quarter.
• Several hedge funds significantly increased their holdings in Novo Nordisk, with Toronto Dominion Bank boosting its position by 494.1%, now owning 88,295 shares valued at $7.6 million.
• Recent analyst ratings for Novo Nordisk indicate mixed opinions, with upgrades from firms like BNP Paribas and DBS Bank, but also a downgrade from Wall Street Zen, resulting in an average rating of "Hold".

Gradient Investments LLC bought a new stake in Novo Nordisk A/S (NYSE:NVO - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,890 shares of the company's stock, valued at approximately $890,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NVO. Revolve Wealth Partners LLC lifted its position in shares of Novo Nordisk A/S by 8.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock valued at $214,000 after acquiring an additional 200 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of Novo Nordisk A/S by 494.1% in the fourth quarter. Toronto Dominion Bank now owns 88,295 shares of the company's stock valued at $7,595,000 after acquiring an additional 73,432 shares in the last quarter. Waverly Advisors LLC lifted its position in shares of Novo Nordisk A/S by 105.4% in the fourth quarter. Waverly Advisors LLC now owns 13,929 shares of the company's stock valued at $1,198,000 after acquiring an additional 7,147 shares in the last quarter. Voloridge Investment Management LLC lifted its position in shares of Novo Nordisk A/S by 134.9% in the fourth quarter. Voloridge Investment Management LLC now owns 1,452,172 shares of the company's stock valued at $124,916,000 after acquiring an additional 833,966 shares in the last quarter. Finally, Vista Investment Management purchased a new position in shares of Novo Nordisk A/S in the fourth quarter valued at approximately $777,000. Hedge funds and other institutional investors own 11.54% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on NVO. BNP Paribas upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research report on Wednesday, August 13th. Dbs Bank upgraded Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research report on Friday, August 22nd. Sanford C. Bernstein upgraded Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a research report on Tuesday, September 9th. Wall Street Zen downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, TD Cowen reduced their price objective on Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, August 19th. Five research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $81.00.

Novo Nordisk A/S Trading Up 2.8%

Shares of NYSE NVO opened at $57.19 on Wednesday. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $135.20. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $57.44 and a 200-day simple moving average of $65.86. The stock has a market capitalization of $255.35 billion, a PE ratio of 15.71, a PEG ratio of 2.11 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The business had revenue of $11.69 billion during the quarter, compared to analysts' expectations of $77.51 billion. On average, equities 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 business also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were paid a dividend of $0.4119 per share. This represents a yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S's payout ratio is presently 22.53%.

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.

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