Park Place Capital Corp Raises Holdings in Novo Nordisk A/S $NVO

Park Place Capital Corp grew its position in shares of Novo Nordisk A/S (NYSE:NVO) by 15.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,947 shares of the company’s stock after buying an additional 264 shares during the period. Park Place Capital Corp’s holdings in Novo Nordisk A/S were worth $136,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Copeland Capital Management LLC lifted its holdings in Novo Nordisk A/S by 184.8% during the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock worth $27,000 after purchasing an additional 255 shares in the last quarter. North Capital Inc. purchased a new stake in Novo Nordisk A/S during the 1st quarter worth about $27,000. Stone House Investment Management LLC purchased a new stake in Novo Nordisk A/S during the 1st quarter worth about $30,000. Disciplina Capital Management LLC lifted its holdings in 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 purchasing an additional 297 shares in the last quarter. Finally, Spirit of America Management Corp NY purchased a new stake in Novo Nordisk A/S during the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Berenberg Bank raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Wednesday, September 17th. Wall Street Zen lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Morgan Stanley lowered Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and decreased their target price for the stock from $59.00 to $47.00 in a research note on Monday. Dbs Bank upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Friday, August 22nd. Finally, Zacks Research lowered Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $75.33.

Novo Nordisk A/S Trading Up 0.0%

Shares of NVO stock opened at $55.52 on Wednesday. The stock has a market capitalization of $247.90 billion, a PE ratio of 15.25, a P/E/G ratio of 2.10 and a beta of 0.66. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $120.56. The business has a 50-day moving average of $55.62 and a 200 day moving average of $64.17. 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 (NYSE:NVO) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The business had revenue of $11.69 billion during the quarter, compared to analysts’ expectations of $77.51 billion. As a group, sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current 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 paid a $0.4119 dividend. This represents a dividend yield of 240.0%. The ex-dividend date was Monday, August 18th. 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.