Newbridge Financial Services Group Inc. Buys 4,233 Shares of Novo Nordisk A/S (NYSE:NVO)

Newbridge Financial Services Group Inc. lifted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 33.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,948 shares of the company’s stock after purchasing an additional 4,233 shares during the quarter. Novo Nordisk A/S accounts for about 0.9% of Newbridge Financial Services Group Inc.’s holdings, making the stock its 22nd largest position. Newbridge Financial Services Group Inc.’s holdings in Novo Nordisk A/S were worth $2,419,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. 1620 Investment Advisors Inc. bought a new stake in shares of Novo Nordisk A/S during the second quarter valued at about $25,000. Gilliland Jeter Wealth Management LLC grew its stake 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 valued at $26,000 after acquiring an additional 120 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Novo Nordisk A/S during the 2nd quarter worth approximately $25,000. First PREMIER Bank purchased a new stake in Novo Nordisk A/S in the 1st quarter worth approximately $25,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new position in Novo Nordisk A/S in the 1st quarter valued at $26,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NYSE:NVO opened at $117.95 on Wednesday. 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 50-day moving average price of $131.38 and a 200-day moving average price of $132.77. The company has a market cap of $529.30 billion, a price-to-earnings ratio of 40.67, a price-to-earnings-growth ratio of 1.35 and a beta of 0.42. Novo Nordisk A/S has a 12 month low of $86.96 and a 12 month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly 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). 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 net margin of 34.86% and a return on equity of 87.43%. As a group, equities analysts anticipate that Novo Nordisk A/S will post 3.11 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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

Analyst Ratings Changes

Several research firms have recently weighed in on NVO. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday, September 16th. Argus raised their price target 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. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Finally, BMO Capital Markets lowered 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 equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock 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.