Dynamic Advisor Solutions LLC Purchases 6,920 Shares of Novo Nordisk A/S $NVO

Key Points

• Dynamic Advisor Solutions LLC increased its stake in Novo Nordisk A/S by 29.0% in Q2, now owning 30,758 shares valued at approximately $2.12 million.
• Novo Nordisk reported $0.97 EPS for the last quarter, exceeding analyst expectations of $0.93, with total revenues of $11.69 billion.
• The company declared a semi-annual dividend of $0.4119 per share, reflecting a significant dividend yield of 240.0% and a payout ratio of 22.53%.

Dynamic Advisor Solutions LLC grew its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 29.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,758 shares of the company's stock after buying an additional 6,920 shares during the quarter. Dynamic Advisor Solutions LLC's holdings in Novo Nordisk A/S were worth $2,123,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in NVO. Copeland Capital Management LLC raised its position in shares of Novo Nordisk A/S by 184.8% during the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after buying an additional 255 shares in the last quarter. North Capital Inc. purchased a new position in Novo Nordisk A/S in the 1st quarter worth $27,000. Park Square Financial Group LLC purchased a new position in Novo Nordisk A/S in the 4th quarter worth $29,000. Stone House Investment Management LLC purchased a new position in Novo Nordisk A/S in the 1st quarter worth $30,000. Finally, Disciplina Capital Management LLC raised its position in Novo Nordisk A/S by 162.3% in the 1st quarter. Disciplina Capital Management LLC now owns 480 shares of the company's stock worth $33,000 after purchasing an additional 297 shares during the period. Hedge funds and other institutional investors own 11.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NVO. TD Cowen decreased their target price on shares of 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. BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 target price on the stock in a research report on Wednesday, August 13th. Zacks Research cut shares of Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 20th. Berenberg Bank raised shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Wednesday. Finally, Sanford C. Bernstein raised shares of Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $81.00.

Novo Nordisk A/S Stock Performance

NYSE NVO traded down $0.40 during trading hours on Friday, hitting $61.45. 12,824,513 shares of the company's stock traded hands, compared to its average volume of 13,342,038. The business's fifty day moving average price is $56.88 and its two-hundred day moving average price is $65.26. 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 firm has a market capitalization of $274.37 billion, a P/E ratio of 16.88, a P/E/G ratio of 2.33 and a beta of 0.66. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $129.48.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The business had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. Equities research analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were paid a $0.4119 dividend. This represents a yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S's dividend payout ratio (DPR) is currently 22.53%.

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.