Precision Wealth Strategies LLC Takes $913,000 Position in Novo Nordisk A/S $NVO

Key Points

• Precision Wealth Strategies LLC has taken a new position in Novo Nordisk A/S, purchasing 13,231 shares valued at approximately $913,000.
• Analysts have mixed views on Novo Nordisk, with Morgan Stanley downgrading its rating from "overweight" to "underweight" and cutting the price target to $47.00, while other firms have issued more favorable ratings.
• The company's recent earnings report showed an EPS of $0.97, exceeding expectations, and a net margin of 35.60%, indicating strong financial performance despite market challenges.

Precision Wealth Strategies LLC purchased a new position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,231 shares of the company's stock, valued at approximately $913,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Loudon Investment Management LLC acquired a new stake in shares of Novo Nordisk A/S during the 2nd quarter worth $2,600,000. Pacific Point Advisors LLC lifted its position in Novo Nordisk A/S by 7.3% during the second quarter. Pacific Point Advisors LLC now owns 17,602 shares of the company's stock worth $1,215,000 after purchasing an additional 1,191 shares during the period. Impact Capital Partners LLC lifted its position in Novo Nordisk A/S by 16.8% during the second quarter. Impact Capital Partners LLC now owns 3,439 shares of the company's stock worth $237,000 after purchasing an additional 494 shares during the period. PFG Investments LLC grew its stake in Novo Nordisk A/S by 26.8% during the second quarter. PFG Investments LLC now owns 22,961 shares of the company's stock worth $1,585,000 after buying an additional 4,859 shares in the last quarter. Finally, Truist Financial Corp increased its holdings in Novo Nordisk A/S by 1.0% in the 2nd quarter. Truist Financial Corp now owns 661,648 shares of the company's stock valued at $45,667,000 after buying an additional 6,440 shares during the period. Institutional investors own 11.54% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NVO. Morgan Stanley downgraded shares of Novo Nordisk A/S from an "overweight" rating to an "underweight" rating and cut their price target for the stock from $59.00 to $47.00 in a report on Monday. Sanford C. Bernstein upgraded Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a research note on Tuesday, September 9th. BNP Paribas raised Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a report on Wednesday, August 13th. UBS Group cut Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday, August 5th. Finally, BNP Paribas Exane raised Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 price objective on the stock in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $77.50.

Novo Nordisk A/S Price Performance

NVO stock opened at $59.15 on Thursday. The company has a market capitalization of $264.08 billion, a P/E ratio of 16.25, a PEG ratio of 2.13 and a beta of 0.68. The company has a fifty day moving average price of $55.40 and a 200-day moving average price of $64.13. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. Novo Nordisk A/S has a 52-week low of $45.05 and a 52-week high of $120.56.

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, topping the consensus estimate of $0.93 by $0.04. The company had revenue of $11.69 billion for the quarter, compared to analysts' expectations of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. As a group, equities analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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

Novo Nordisk A/S Company 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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