PFG Investments LLC boosted its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 26.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,961 shares of the company's stock after buying an additional 4,859 shares during the period. PFG Investments LLC's holdings in Novo Nordisk A/S were worth $1,585,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. North Capital Inc. bought a new position in Novo Nordisk A/S in the 1st quarter valued at about $27,000. Copeland Capital Management LLC grew its position in Novo Nordisk A/S by 184.8% in 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. Stone House Investment Management LLC bought a new position in Novo Nordisk A/S in the 1st quarter valued at about $30,000. Disciplina Capital Management LLC grew 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 valued at $33,000 after buying an additional 297 shares in the last quarter. Finally, Spirit of America Management Corp NY bought a new position in Novo Nordisk A/S in the 1st quarter valued at about $35,000. Institutional investors own 11.54% of the company's stock.
Novo Nordisk A/S Price Performance
NVO stock opened at $59.15 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $120.56. The firm has a market capitalization of $264.08 billion, a PE ratio of 16.25, a P/E/G ratio of 2.13 and a beta of 0.68. The firm has a 50-day moving average of $55.40 and a two-hundred day moving average of $64.13.
Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The company had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. On average, 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 declared a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were given a $0.4119 dividend. This represents a dividend yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S's dividend payout ratio is 22.53%.
Analyst Ratings Changes
A number of brokerages recently issued reports on NVO. Dbs Bank upgraded shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research report on Friday, August 22nd. Morgan Stanley downgraded shares of Novo Nordisk A/S from an "overweight" rating to an "underweight" rating and cut their price target for the company from $59.00 to $47.00 in a report on Monday. HSBC set a $70.00 price target on shares of Novo Nordisk A/S in a report on Wednesday. TD Cowen cut their price target on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, August 19th. Finally, Barclays reissued an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $77.50.
Read Our Latest Stock Analysis on Novo Nordisk A/S
Novo Nordisk A/S Company Profile
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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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