Novo Nordisk A/S (NYSE:NVO) is Harmony Asset Management LLC’s 6th Largest Position

Harmony Asset Management LLC increased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 5.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 60,827 shares of the company’s stock after purchasing an additional 3,002 shares during the period. Novo Nordisk A/S accounts for 3.6% of Harmony Asset Management LLC’s investment portfolio, making the stock its 6th largest position. Harmony Asset Management LLC’s holdings in Novo Nordisk A/S were worth $8,682,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of NVO. Aveo Capital Partners LLC purchased a new position in Novo Nordisk A/S during the fourth quarter worth about $205,000. 9258 Wealth Management LLC raised its position in Novo Nordisk A/S by 4.0% during the fourth quarter. 9258 Wealth Management LLC now owns 2,513 shares of the company’s stock valued at $260,000 after purchasing an additional 97 shares in the last quarter. Rollins Financial lifted its stake in Novo Nordisk A/S by 10.4% during the fourth quarter. Rollins Financial now owns 3,894 shares of the company’s stock worth $403,000 after purchasing an additional 368 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Novo Nordisk A/S by 38.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock valued at $9,781,000 after purchasing an additional 26,067 shares during the last quarter. Finally, Gryphon Financial Partners LLC purchased a new position in shares of Novo Nordisk A/S during the 4th quarter valued at about $237,000. 11.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reaffirmed 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. Argus lifted their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 18th. The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective for the company. Finally, 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 research note on Thursday, August 8th. One 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $145.17.

Novo Nordisk A/S Price Performance

Shares of NVO stock 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 has a market cap 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 company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The business’s fifty day moving average is $133.13 and its 200 day moving average is $133.32.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 EPS 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 the consensus estimate of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. Research analysts expect 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 disclosed a semi-annual dividend, which was paid on Monday, August 26th. Shareholders 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 payout ratio is 24.83%.

Novo Nordisk A/S Company 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.