Novo Nordisk A/S $NVO Shares Bought by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC lifted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 8.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,947 shares of the company’s stock after purchasing an additional 947 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Novo Nordisk A/S were worth $825,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Kingstone Capital Partners Texas LLC boosted its holdings in shares of Novo Nordisk A/S by 301,443.6% in the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock worth $690,560,000 after buying an additional 10,001,898 shares during the period. Nuveen LLC purchased a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at approximately $370,272,000. Amundi lifted its position in shares of Novo Nordisk A/S by 49.1% in the 1st quarter. Amundi now owns 4,938,507 shares of the company’s stock valued at $331,576,000 after acquiring an additional 1,627,051 shares in the last quarter. Acadian Asset Management LLC boosted its stake 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 worth $72,523,000 after purchasing an additional 1,038,137 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Novo Nordisk A/S by 118.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,594,544 shares of the company’s stock worth $110,725,000 after purchasing an additional 864,579 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on NVO shares. BNP Paribas Exane upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 target price for the company in a report on Wednesday, August 13th. Zacks Research raised Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Rothschild & Co Redburn upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 16th. Rothschild Redb raised Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 16th. Finally, Morgan Stanley lowered shares of Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and reduced their price target for the stock from $59.00 to $47.00 in a research report on Monday, September 29th. Two investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.00.

Novo Nordisk A/S Stock Performance

NVO stock opened at $54.77 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $244.55 billion, a price-to-earnings ratio of 15.05, a P/E/G ratio of 2.53 and a beta of 0.68. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $116.65. The firm has a 50 day moving average of $56.46 and a two-hundred day moving average of $62.58.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share 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 business had revenue of $11.69 billion for the quarter, compared to the consensus estimate of $77.51 billion. As a group, equities analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

About Novo Nordisk A/S

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.