Mercer Global Advisors Inc. ADV Raises Holdings in Novo Nordisk A/S (NYSE:NVO)

Mercer Global Advisors Inc. ADV lifted its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 4.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,581 shares of the company’s stock after purchasing an additional 8,030 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Novo Nordisk A/S were worth $29,202,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. First PREMIER Bank acquired a new stake in Novo Nordisk A/S during the first quarter worth approximately $25,000. 1620 Investment Advisors Inc. acquired a new stake in Novo Nordisk A/S during the second quarter worth approximately $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Novo Nordisk A/S during the first quarter worth approximately $26,000. Orion Capital Management LLC acquired a new stake in Novo Nordisk A/S during the first quarter worth approximately $26,000. Finally, Gilliland Jeter Wealth Management LLC boosted its position in Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after acquiring an additional 120 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NVO shares. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. The Goldman Sachs Group began coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target on the stock. BMO Capital Markets decreased their price target on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Argus lifted their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $145.17.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $132.09 on Thursday. The company’s fifty day simple moving average is $133.52 and its 200-day simple moving average is $133.19. Novo Nordisk A/S has a 52 week low of $86.96 and a 52 week high of $148.15. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The company has a market cap of $592.76 billion, a PE ratio of 45.55, a P/E/G ratio of 1.48 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The business had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. As a group, equities research analysts anticipate that Novo Nordisk A/S will post 3.11 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were paid a dividend of $0.5126 per share. This represents a yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is 24.83%.

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.