Centaurus Financial Inc. Acquires 3,560 Shares of Novo Nordisk A/S (NYSE:NVO)

Centaurus Financial Inc. lifted its stake in Novo Nordisk A/S (NYSE:NVO) by 98.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,175 shares of the company’s stock after buying an additional 3,560 shares during the quarter. Centaurus Financial Inc.’s holdings in Novo Nordisk A/S were worth $1,024,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New Hampshire boosted its stake in shares of Novo Nordisk A/S by 1,356.8% in the first quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock worth $1,702,000 after acquiring an additional 12,347 shares during the period. Cim LLC purchased a new position in shares of Novo Nordisk A/S in the fourth quarter worth $23,547,000. Burford Brothers Inc. bought a new stake in Novo Nordisk A/S in the 4th quarter valued at $1,045,000. Mark Asset Management LP bought a new position in shares of Novo Nordisk A/S during the 4th quarter valued at about $1,035,000. Finally, Fox Hill Wealth Management lifted its position in shares of Novo Nordisk A/S by 121.3% in the first quarter. Fox Hill Wealth Management now owns 28,320 shares of the company’s stock worth $3,636,000 after buying an additional 15,525 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NVO. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Tuesday. BMO Capital Markets reduced 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. 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday, September 16th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $145.17.

Novo Nordisk A/S Price Performance

Shares of NVO stock opened at $115.10 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. The stock has a 50 day moving average price of $130.59 and a 200 day moving average price of $132.41. Novo Nordisk A/S has a 52-week low of $87.02 and a 52-week high of $148.15. The firm has a market capitalization of $516.51 billion, a P/E ratio of 39.69, a P/E/G ratio of 1.35 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data 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). The company 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, sell-side analysts predict 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 announced a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were issued a $0.5126 dividend. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s dividend 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.