Park Place Capital Corp Takes $119,000 Position in Novo Nordisk A/S (NYSE:NVO)

Park Place Capital Corp purchased a new stake in shares of Novo Nordisk A/S (NYSE:NVO) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,000 shares of the company’s stock, valued at approximately $119,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Advisor OS LLC increased its position in shares of Novo Nordisk A/S by 0.6% during the second quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock valued at $1,994,000 after buying an additional 82 shares during the period. Cascade Financial Partners LLC raised its stake in Novo Nordisk A/S by 2.3% in the second quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock valued at $543,000 after purchasing an additional 84 shares in the last quarter. Cravens & Co Advisors LLC raised its stake in Novo Nordisk A/S by 1.0% in the first quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock valued at $1,059,000 after purchasing an additional 85 shares in the last quarter. AA Financial Advisors LLC raised its stake in Novo Nordisk A/S by 3.2% in the second quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock valued at $400,000 after purchasing an additional 86 shares in the last quarter. Finally, Steel Grove Capital Advisors LLC raised its stake in Novo Nordisk A/S by 2.3% in the second quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock valued at $541,000 after purchasing an additional 86 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $117.20 on Wednesday. The stock has a market cap of $525.92 billion, a P/E ratio of 40.41, a price-to-earnings-growth ratio of 1.35 and a beta of 0.42. The firm’s fifty day simple moving average is $130.39 and its 200 day simple moving average is $132.35. Novo Nordisk A/S has a twelve month low of $90.50 and a twelve month high of $148.15. 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 (NYSE:NVO) last released its quarterly earnings results 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 company had revenue of $9.82 billion during 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, research analysts predict that Novo Nordisk A/S will post 3.11 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were issued 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 dividend payout ratio (DPR) is presently 24.83%.

Analyst Ratings Changes

NVO has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, September 16th. Finally, BMO Capital Markets decreased 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 note on Thursday, August 8th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.