Novo Nordisk A/S $NVO Shares Purchased by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management raised its position in Novo Nordisk A/S (NYSE:NVO) by 31.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,234 shares of the company’s stock after acquiring an additional 2,472 shares during the period. Keudell Morrison Wealth Management’s holdings in Novo Nordisk A/S were worth $706,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Unified Investment Management acquired a new position in Novo Nordisk A/S in the 2nd quarter valued at about $692,000. Acadian Asset Management LLC boosted its holdings in Novo Nordisk A/S by 15,919.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock valued at $72,523,000 after purchasing an additional 1,038,137 shares during the last quarter. Norden Group LLC boosted its holdings in Novo Nordisk A/S by 216.3% in the 2nd quarter. Norden Group LLC now owns 96,332 shares of the company’s stock valued at $6,649,000 after purchasing an additional 65,877 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Novo Nordisk A/S by 48.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 103,138 shares of the company’s stock valued at $7,119,000 after purchasing an additional 33,794 shares during the last quarter. Finally, Ridgewood Investments LLC boosted its holdings in Novo Nordisk A/S by 205.4% in the 2nd quarter. Ridgewood Investments LLC now owns 6,627 shares of the company’s stock valued at $457,000 after purchasing an additional 4,457 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $59.68 on Friday. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $120.56. The firm’s 50 day moving average price is $54.92 and its 200 day moving average price is $63.73. The company has a market cap of $266.45 billion, a P/E ratio of 16.39, a PEG ratio of 2.28 and a beta of 0.68. 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) last announced 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. 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 for the quarter, compared to the consensus estimate of $77.51 billion. On average, research 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 company also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were given 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 is currently 22.53%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NVO. Rothschild Redb raised shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 16th. Sanford C. Bernstein raised shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 9th. Berenberg Bank raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Wednesday, September 17th. Zacks Research raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Rothschild & Co Redburn raised shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $77.50.

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.