Novo Nordisk A/S $NVO Shares Bought by Carolina Wealth Advisors LLC

Key Points

• Carolina Wealth Advisors LLC increased its stake in Novo Nordisk A/S by 43.0% in Q2, now holding 14,344 shares valued at approximately $990,000.
• Recent analyst ratings for Novo Nordisk have seen price targets adjusted, with TD Cowen reducing its target from $105 to $70, reflecting a cautious outlook from several firms.
• Novo Nordisk recently declared a semi-annual dividend of $0.4119, representing a dividend yield of 240.0% with a payout ratio of 22.53%.

Carolina Wealth Advisors LLC lifted its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 43.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,344 shares of the company's stock after purchasing an additional 4,310 shares during the period. Carolina Wealth Advisors LLC's holdings in Novo Nordisk A/S were worth $990,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC lifted its position in shares of Novo Nordisk A/S by 301,443.6% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company's stock valued at $690,560,000 after acquiring an additional 10,001,898 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Novo Nordisk A/S during the first quarter worth $370,272,000. Amundi lifted its holdings in shares of Novo Nordisk A/S by 49.1% during the first quarter. Amundi now owns 4,938,507 shares of the company's stock valued at $331,576,000 after purchasing an additional 1,627,051 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Novo Nordisk A/S by 15,919.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company's stock valued at $72,523,000 after purchasing an additional 1,038,137 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Novo Nordisk A/S by 118.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,594,544 shares of the company's stock worth $110,725,000 after purchasing an additional 864,579 shares in the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on NVO. TD Cowen reduced their price objective on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, August 19th. Morgan Stanley downgraded shares of Novo Nordisk A/S from an "overweight" rating to an "underweight" rating and reduced their price target for the company from $59.00 to $47.00 in a research report on Monday, September 29th. HSBC set a $70.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday. Barclays reissued an "equal weight" rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Finally, Dbs Bank raised Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research report on Friday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.50.

Novo Nordisk A/S Trading Up 1.6%

Shares of NYSE:NVO opened at $59.68 on Friday. The firm has a fifty day moving average of $54.92 and a two-hundred day moving average of $63.73. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a 12-month low of $45.05 and a 12-month high of $120.56. The firm has a market capitalization of $266.45 billion, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 2.28 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, topping the consensus estimate 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 return on equity of 78.64% and a net margin of 35.60%. On average, equities analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company 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. The ex-dividend date of this dividend was Monday, August 18th. This represents a dividend yield of 240.0%. 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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