Bridges Investment Management Inc. Takes $1.08 Million Position in Novo Nordisk A/S (NYSE:NVO)

Bridges Investment Management Inc. purchased a new stake in Novo Nordisk A/S (NYSE:NVO) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,550 shares of the company’s stock, valued at approximately $1,078,000.

A number of other hedge funds have also bought and sold shares of the business. First PREMIER Bank bought a new position in shares of Novo Nordisk A/S during the first quarter worth approximately $25,000. 1620 Investment Advisors Inc. bought a new position in Novo Nordisk A/S during the 2nd quarter worth $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Novo Nordisk A/S in the 1st quarter valued at $26,000. Orion Capital Management LLC bought a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at $26,000. Finally, Gilliland Jeter Wealth Management LLC grew its holdings in shares of Novo Nordisk A/S by 200.0% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after purchasing an additional 120 shares in the last quarter. 11.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on NVO. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. BMO Capital Markets decreased their target price 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday, September 16th. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective on the stock. Finally, Argus raised their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $145.17.

Novo Nordisk A/S Stock Down 5.5 %

Shares of NVO opened at $127.51 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. Novo Nordisk A/S has a 52 week low of $86.96 and a 52 week high of $148.15. The stock has a market capitalization of $572.21 billion, a price-to-earnings ratio of 43.97, a PEG ratio of 1.48 and a beta of 0.42. The stock has a fifty day moving average of $133.13 and a 200-day moving average of $133.20.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. As a group, sell-side analysts anticipate that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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