Oppenheimer Asset Management Inc. Increases Stock Holdings in Novo Nordisk A/S $NVO

Oppenheimer Asset Management Inc. increased its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 4.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 493,724 shares of the company’s stock after acquiring an additional 23,159 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $34,077,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. North Capital Inc. bought a new stake in Novo Nordisk A/S during the first quarter worth $27,000. Copeland Capital Management LLC lifted its holdings in Novo Nordisk A/S by 184.8% during the first quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock worth $27,000 after acquiring an additional 255 shares during the period. Stone House Investment Management LLC bought a new stake in Novo Nordisk A/S during the first quarter worth $30,000. Disciplina Capital Management LLC lifted its holdings in Novo Nordisk A/S by 162.3% during the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock worth $33,000 after acquiring an additional 297 shares during the period. Finally, Dagco Inc. bought a new stake in Novo Nordisk A/S during the first quarter worth $35,000. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Down 0.4%

Shares of NYSE NVO opened at $53.02 on Friday. 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 one year low of $45.05 and a one year high of $114.19. The stock has a market capitalization of $236.74 billion, a PE ratio of 14.57, a P/E/G ratio of 2.41 and a beta of 0.68. The business’s fifty day moving average price is $56.56 and its 200-day moving average price is $62.40.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. On average, equities research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current 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. This represents a dividend yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S’s payout ratio is presently 22.53%.

Analysts Set New Price Targets

A number of brokerages recently commented on NVO. HSBC set a $70.00 price target on Novo Nordisk A/S in a report on Wednesday, October 1st. Morgan Stanley cut Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and dropped their price target for the company from $59.00 to $47.00 in a research report on Monday, September 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Novo Nordisk A/S in a research report on Tuesday, October 14th. Dbs Bank raised Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Friday, August 22nd. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $55.00 price target (up previously from $50.00) on shares of Novo Nordisk A/S in a research report on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $76.00.

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.