DRW Securities LLC Purchases Shares of 9,077 Novo Nordisk A/S (NYSE:NVO)

DRW Securities LLC purchased a new stake in shares of Novo Nordisk A/S (NYSE:NVO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 9,077 shares of the company’s stock, valued at approximately $1,298,000.

A number of other hedge funds also recently modified their holdings of NVO. First PREMIER Bank bought a new position in Novo Nordisk A/S during the 1st quarter worth $25,000. 1620 Investment Advisors Inc. bought a new position in shares of Novo Nordisk A/S during the second quarter worth about $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Novo Nordisk A/S in the first quarter worth approximately $26,000. Orion Capital Management LLC bought a new stake in Novo Nordisk A/S in the first quarter valued at approximately $26,000. Finally, Gilliland Jeter Wealth Management LLC increased its position in 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 valued at $26,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $127.51 on Monday. Novo Nordisk A/S has a twelve month low of $86.96 and a twelve month high of $148.15. The stock’s 50 day moving average is $133.13 and its 200-day moving average is $133.32. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm 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.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.06). The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. Sell-side analysts forecast that Novo Nordisk A/S will post 3.11 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business 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 dividend yield of 0.7%. Novo Nordisk A/S’s payout ratio is 24.83%.

Analysts Set New Price Targets

NVO has been the topic of a number of analyst reports. The Goldman Sachs Group began 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. BMO Capital Markets decreased their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday, September 16th. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 18th. Finally, Argus boosted their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Novo Nordisk A/S presently has an average rating of “Buy” and an average price target of $145.17.

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.