Seed Wealth Management Inc. Raises Stock Holdings in Novo Nordisk A/S $NVO

Seed Wealth Management Inc. increased its position in Novo Nordisk A/S (NYSE:NVO) by 13.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 15,950 shares of the company’s stock after purchasing an additional 1,920 shares during the period. Seed Wealth Management Inc.’s holdings in Novo Nordisk A/S were worth $1,101,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in NVO. Acadian Asset Management LLC increased its position in Novo Nordisk A/S by 15,919.9% during 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 period. North Star Investment Management Corp. grew its position in shares of Novo Nordisk A/S by 18.2% in the 1st quarter. North Star Investment Management Corp. now owns 20,742 shares of the company’s stock worth $1,440,000 after buying an additional 3,200 shares during the period. Farther Finance Advisors LLC grew its position 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 worth $7,119,000 after buying an additional 33,794 shares during the period. Rhumbline Advisers grew its position in shares of Novo Nordisk A/S by 10.2% in the 1st quarter. Rhumbline Advisers now owns 63,539 shares of the company’s stock worth $4,412,000 after buying an additional 5,898 shares during the period. Finally, Eldred Rock Partners LLC grew its position in shares of Novo Nordisk A/S by 72.0% in the 2nd quarter. Eldred Rock Partners LLC now owns 165,219 shares of the company’s stock worth $11,403,000 after buying an additional 69,184 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. UBS Group cut shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 5th. Barclays reiterated an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. BNP Paribas upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 13th. Rothschild & Co Redburn upgraded shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 16th. Finally, Hsbc Global Res cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $81.00.

Novo Nordisk A/S Trading Down 0.6%

Shares of NVO opened at $61.45 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $129.48. The company has a 50 day simple moving average of $56.88 and a two-hundred day simple moving average of $65.10. The firm has a market cap of $274.37 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 2.33 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates 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%. On average, equities analysts expect 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 declared a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were paid a dividend of $0.4119 per share. The ex-dividend date was Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio (DPR) 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.