Venture Visionary Partners LLC Increases Holdings in Novo Nordisk A/S $NVO

Key Points

• Venture Visionary Partners LLC has increased its holdings in Novo Nordisk A/S by 31.1%, owning 80,609 shares worth approximately $5.56 million as of the most recent reporting period.
• Several institutional investors, including First Hawaiian Bank and Xponance Inc., have also increased their stakes in Novo Nordisk A/S during the past quarters.
• Novo Nordisk A/S reported earnings of $0.97 EPS for the last quarter, exceeding analysts' expectations, with a forecast of 3.84 EPS for the current fiscal year.

Venture Visionary Partners LLC lifted its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 31.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,609 shares of the company's stock after purchasing an additional 19,110 shares during the period. Venture Visionary Partners LLC's holdings in Novo Nordisk A/S were worth $5,564,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. First Hawaiian Bank increased its stake in shares of Novo Nordisk A/S by 0.6% in the 1st quarter. First Hawaiian Bank now owns 22,401 shares of the company's stock worth $1,556,000 after purchasing an additional 142 shares in the last quarter. Anchor Investment Management LLC increased its stake in shares of Novo Nordisk A/S by 1.1% in the 1st quarter. Anchor Investment Management LLC now owns 13,597 shares of the company's stock worth $944,000 after purchasing an additional 150 shares in the last quarter. Xponance Inc. increased its stake in shares of Novo Nordisk A/S by 5.0% in the 1st quarter. Xponance Inc. now owns 3,314 shares of the company's stock worth $230,000 after purchasing an additional 158 shares in the last quarter. Foster Dykema Cabot & Partners LLC increased its stake in shares of Novo Nordisk A/S by 3.8% in the 1st quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company's stock worth $319,000 after purchasing an additional 166 shares in the last quarter. Finally, 180 Wealth Advisors LLC increased its stake in shares of Novo Nordisk A/S by 3.6% in the 1st quarter. 180 Wealth Advisors LLC now owns 5,014 shares of the company's stock worth $348,000 after purchasing an additional 173 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Down 0.2%

NVO opened at $55.52 on Tuesday. The firm has a 50-day simple moving average of $55.84 and a two-hundred day simple moving average of $64.23. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $120.56. The company has a market capitalization of $247.90 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 2.11 and a beta of 0.66. 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 (NYSE:NVO - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. Analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were issued 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 dividend payout ratio (DPR) is presently 22.53%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Barclays restated an "equal weight" rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. UBS Group downgraded shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday, August 5th. Wall Street Zen downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Rothschild & Co Redburn raised shares of Novo Nordisk A/S from a "neutral" rating to a "buy" rating in a report on Tuesday, September 16th. Finally, HSBC downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 target price for the company. in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $75.33.

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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