Unified Investment Management Invests $692,000 in Novo Nordisk A/S $NVO

Key Points

• Unified Investment Management has acquired 10,025 shares of Novo Nordisk A/S, valued at approximately $692,000, as per their recent SEC filing.
• Novo Nordisk A/S reported earnings of $0.97 per share, exceeding estimates, with revenue of $11.69 billion for the quarter.
• The company's stock currently holds a consensus rating of "Hold" from analysts, with an average price target set at $81.00.

Unified Investment Management acquired a new position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,025 shares of the company's stock, valued at approximately $692,000.

A number of other hedge funds have also recently bought and sold shares of the company. Pictet North America Advisors SA boosted its position in Novo Nordisk A/S by 1.9% during the second quarter. Pictet North America Advisors SA now owns 73,549 shares of the company's stock worth $5,076,000 after acquiring an additional 1,395 shares during the last quarter. Bfsg LLC boosted its position in Novo Nordisk A/S by 1.7% during the second quarter. Bfsg LLC now owns 117,450 shares of the company's stock worth $8,106,000 after acquiring an additional 1,943 shares during the last quarter. Cardinal Capital Management boosted its position in Novo Nordisk A/S by 2.4% during the second quarter. Cardinal Capital Management now owns 49,576 shares of the company's stock worth $3,422,000 after acquiring an additional 1,161 shares during the last quarter. Wealth Advisory Solutions LLC boosted its position in Novo Nordisk A/S by 0.8% during the second quarter. Wealth Advisory Solutions LLC now owns 42,877 shares of the company's stock worth $2,959,000 after acquiring an additional 340 shares during the last quarter. Finally, Golden State Equity Partners boosted its position in Novo Nordisk A/S by 383.0% during the second quarter. Golden State Equity Partners now owns 15,112 shares of the company's stock worth $1,043,000 after acquiring an additional 11,983 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Price Performance

NVO opened at $60.70 on Tuesday. The company has a 50-day moving average of $56.71 and a 200-day moving average of $64.92. The company has a market capitalization of $271.03 billion, a P/E ratio of 16.68, a PEG ratio of 2.33 and a beta of 0.66. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $127.61. 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 (NYSE:NVO - Get Free Report) last released its earnings results 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 during the quarter, compared to the consensus estimate of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. 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 firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Investors 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 of this dividend was Monday, August 18th. Novo Nordisk A/S's dividend payout ratio is currently 22.53%.

Wall Street Analysts Forecast Growth

NVO has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. HSBC lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price target on the stock. in a report on Thursday, July 31st. UBS Group lowered shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday, August 5th. Barclays reiterated an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Finally, Berenberg Bank upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Wednesday, September 17th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $81.00.

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.

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