RKL Wealth Management LLC Buys 620 Shares of Novo Nordisk A/S $NVO

RKL Wealth Management LLC boosted its holdings in Novo Nordisk A/S (NYSE:NVO) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,955 shares of the company’s stock after buying an additional 620 shares during the quarter. Novo Nordisk A/S makes up approximately 0.5% of RKL Wealth Management LLC’s investment portfolio, making the stock its 29th largest position. RKL Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $5,795,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Copeland Capital Management LLC grew its position 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 purchasing an additional 255 shares during the period. North Capital Inc. bought a new stake in shares of Novo Nordisk A/S during the 1st quarter worth $27,000. Stone House Investment Management LLC bought a new stake in shares of Novo Nordisk A/S during the 1st quarter worth $30,000. Disciplina Capital Management LLC raised its stake 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 purchasing an additional 297 shares during the period. Finally, Spirit of America Management Corp NY bought a new stake in Novo Nordisk A/S in the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NVO shares. Dbs Bank upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Friday, August 22nd. 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 cut their target price for the stock from $59.00 to $47.00 in a research note on Monday. BNP Paribas Exane raised Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price objective for the company in a research note on Wednesday, August 13th. Finally, UBS Group lowered Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $77.50.

Novo Nordisk A/S Price Performance

NYSE NVO opened at $59.15 on Thursday. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $120.56. The stock has a 50-day moving average of $55.40 and a 200 day moving average of $64.13. The company has a market capitalization of $264.08 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 2.13 and a beta of 0.68. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.93 by $0.04. The company 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, 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 company also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were issued a dividend of $0.4119 per share. This represents a dividend yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio is 22.53%.

Novo Nordisk A/S 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.