Savvy Advisors Inc. Boosts Stock Position in Novo Nordisk A/S $NVO

Savvy Advisors Inc. boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 122.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,686 shares of the company’s stock after acquiring an additional 14,672 shares during the quarter. Savvy Advisors Inc.’s holdings in Novo Nordisk A/S were worth $1,842,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Unified Investment Management acquired a new position in shares of Novo Nordisk A/S during the second quarter worth 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 in the last quarter. Guild Investment Management Inc. increased its position in Novo Nordisk A/S by 20.7% during the 2nd quarter. Guild Investment Management Inc. now owns 36,995 shares of the company’s stock worth $2,553,000 after purchasing an additional 6,345 shares during the period. Norden Group LLC raised its stake in shares of Novo Nordisk A/S by 216.3% during the 2nd quarter. Norden Group LLC now owns 96,332 shares of the company’s stock worth $6,649,000 after buying an additional 65,877 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of 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 buying an additional 33,794 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Wall Street Zen downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. TD Cowen reduced their target price on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, August 19th. 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. 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, BMO Capital Markets reiterated a “market perform” rating and issued a $55.00 price objective (up previously from $50.00) on shares of Novo Nordisk A/S in a research note on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $76.00.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $50.03 on Friday. Novo Nordisk A/S has a 12-month low of $45.05 and a 12-month high of $113.02. The stock has a market cap of $223.38 billion, a P/E ratio of 13.74, a PEG ratio of 2.33 and a beta of 0.68. 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 has a 50-day moving average of $56.32 and a two-hundred day moving average of $62.05.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data 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 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%. As a group, research analysts predict 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 disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were paid a dividend of $0.4119 per share. 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 (DPR) is presently 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.