Novo Nordisk A/S (NYSE:NVO) Shares Acquired by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC increased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 2.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,790 shares of the company’s stock after purchasing an additional 86 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Novo Nordisk A/S were worth $541,000 as of its most recent filing with the Securities & Exchange Commission.

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

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $127.51 on Monday. The firm has a market cap of $572.21 billion, a PE ratio of 43.97, a price-to-earnings-growth 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. Novo Nordisk A/S has a 52 week low of $86.96 and a 52 week high of $148.15. The business’s fifty day simple moving average is $133.13 and its 200-day simple moving average is $133.32.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share 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 company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Equities analysts forecast that Novo Nordisk A/S will post 3.11 earnings per share 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. Stockholders of record on Friday, August 16th were given a dividend of $0.5126 per share. The ex-dividend date was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio is currently 24.83%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NVO. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday, September 16th. Argus boosted their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price for the company. Finally, BMO Capital Markets lowered 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 research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Novo Nordisk A/S has a consensus rating of “Buy” and a consensus target price of $145.17.

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.