Klingman & Associates LLC Acquires 2,753 Shares of Novo Nordisk A/S $NVO

Klingman & Associates LLC increased its position in Novo Nordisk A/S (NYSE:NVO) by 83.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,055 shares of the company’s stock after purchasing an additional 2,753 shares during the quarter. Klingman & Associates LLC’s holdings in Novo Nordisk A/S were worth $418,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of NVO. Copeland Capital Management LLC grew its stake in Novo Nordisk A/S by 184.8% in the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock valued at $27,000 after buying an additional 255 shares during the last quarter. North Capital Inc. acquired a new stake in shares of Novo Nordisk A/S during the 1st quarter worth approximately $27,000. Stone House Investment Management LLC acquired a new stake in shares of Novo Nordisk A/S during the 1st quarter worth approximately $30,000. Disciplina Capital Management LLC boosted its position in shares of Novo Nordisk A/S by 162.3% during the 1st quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock worth $33,000 after acquiring an additional 297 shares in the last quarter. Finally, Dagco Inc. acquired a new stake in Novo Nordisk A/S in the first quarter valued at approximately $35,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $54.77 on Wednesday. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $116.65. The firm has a fifty day simple moving average of $56.46 and a 200 day simple moving average of $62.58. The company has a market capitalization of $244.55 billion, a PE ratio of 15.05, a P/E/G ratio of 2.53 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 posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $77.51 billion. On average, sell-side analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were paid a $0.4119 dividend. This represents a yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S’s payout ratio is 22.53%.

Wall Street Analyst Weigh In

NVO has been the subject of several analyst reports. BNP Paribas Exane raised shares of 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 note on Wednesday, August 13th. Zacks Research raised Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Berenberg Bank raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Wednesday, September 17th. Dbs Bank raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Friday, August 22nd. Finally, UBS Group downgraded shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.00.

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.