Ameriflex Group Inc. Boosts Position in Novo Nordisk A/S $NVO

Ameriflex Group Inc. raised its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 8.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,511 shares of the company’s stock after buying an additional 525 shares during the quarter. Ameriflex Group Inc.’s holdings in Novo Nordisk A/S were worth $441,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NVO. Revolve Wealth Partners LLC grew its holdings in Novo Nordisk A/S by 8.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock valued at $214,000 after buying an additional 200 shares in the last quarter. Rhumbline Advisers grew its holdings in Novo Nordisk A/S by 10.2% during the 1st quarter. Rhumbline Advisers now owns 63,539 shares of the company’s stock valued at $4,412,000 after buying an additional 5,898 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in Novo Nordisk A/S by 1.5% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 20,032 shares of the company’s stock valued at $1,391,000 after buying an additional 290 shares in the last quarter. Beacon Financial Group grew its holdings in Novo Nordisk A/S by 6.5% during the 1st quarter. Beacon Financial Group now owns 2,884 shares of the company’s stock valued at $200,000 after buying an additional 177 shares in the last quarter. Finally, Naples Global Advisors LLC purchased a new position in Novo Nordisk A/S during the 1st quarter valued at about $829,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. BNP Paribas upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research report on Wednesday, August 13th. Dbs Bank upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Friday, August 22nd. Berenberg Bank upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. UBS Group downgraded Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 5th. Finally, BNP Paribas Exane upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price target for the company in a research report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $77.50.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $59.68 on Friday. The business has a 50 day moving average of $54.92 and a 200 day moving average of $63.84. The company has a market capitalization of $266.45 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 2.25 and a beta of 0.68. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $120.56. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 78.64% and a net margin of 35.60%. On average, sell-side analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were given a $0.4119 dividend. The ex-dividend date was Monday, August 18th. This represents a 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.