Cypress Wealth Services LLC Invests $213,000 in Novo Nordisk A/S $NVO

Cypress Wealth Services LLC purchased a new position in Novo Nordisk A/S (NYSE:NVO) during the second quarter, Holdings Channel reports. The institutional investor purchased 3,093 shares of the company’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. First Hawaiian Bank lifted its position in shares of Novo Nordisk A/S by 0.6% during the 1st quarter. First Hawaiian Bank now owns 22,401 shares of the company’s stock valued at $1,556,000 after acquiring an additional 142 shares during the period. Anchor Investment Management LLC lifted its position in shares of Novo Nordisk A/S by 1.1% during the 1st quarter. Anchor Investment Management LLC now owns 13,597 shares of the company’s stock valued at $944,000 after acquiring an additional 150 shares during the period. Xponance Inc. lifted its position in shares of Novo Nordisk A/S by 5.0% during the 1st quarter. Xponance Inc. now owns 3,314 shares of the company’s stock valued at $230,000 after acquiring an additional 158 shares during the period. Foster Dykema Cabot & Partners LLC lifted its position in shares of Novo Nordisk A/S by 3.8% during the 1st quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company’s stock valued at $319,000 after acquiring an additional 166 shares during the period. Finally, PFG Investments LLC lifted its position in shares of Novo Nordisk A/S by 1.0% during the 1st quarter. PFG Investments LLC now owns 18,102 shares of the company’s stock valued at $1,257,000 after acquiring an additional 178 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

NVO has been the topic of a number of research reports. UBS Group downgraded shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 5th. Zacks Research upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Rothschild Redb upgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 16th. 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. Finally, Hsbc Global Res upgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $76.00.

Novo Nordisk A/S Stock Performance

NVO opened at $56.67 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The company’s fifty day moving average price is $55.80 and its two-hundred day moving average price is $62.98. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $119.09. The company has a market cap of $253.03 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 2.60 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. The firm had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. On average, analysts expect that Novo Nordisk A/S will post 3.84 EPS 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. Stockholders of record on Monday, August 18th were issued a $0.4119 dividend. The ex-dividend date was Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio is currently 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.