Ieq Capital LLC Grows Position in Novo Nordisk A/S (NYSE:NVO)

Ieq Capital LLC increased its holdings in Novo Nordisk A/S (NYSE:NVO) by 0.4% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 34,404 shares of the company’s stock after buying an additional 128 shares during the quarter. Ieq Capital LLC’s holdings in Novo Nordisk A/S were worth $4,911,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First PREMIER Bank bought a new position in Novo Nordisk A/S during the first quarter valued at approximately $25,000. 1620 Investment Advisors Inc. bought a new position in shares of Novo Nordisk A/S during the 2nd quarter valued at $25,000. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Novo Nordisk A/S during the 1st quarter valued at $26,000. Orion Capital Management LLC bought a new stake in shares of Novo Nordisk A/S in the first quarter worth $26,000. Finally, Gilliland Jeter Wealth Management LLC grew its holdings 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 worth $26,000 after acquiring an additional 120 shares during the period. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 5.5 %

Shares of NVO stock opened at $127.51 on Friday. The company has a market capitalization 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 debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The company’s fifty day moving average price is $133.13 and its 200-day moving average price is $133.20. Novo Nordisk A/S has a one year low of $86.96 and a one year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released 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). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. Sell-side 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. Stockholders of record on Friday, August 16th were given 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 currently 24.83%.

Analyst Ratings Changes

A number of research analysts have weighed in on NVO shares. The Goldman Sachs Group began coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, September 16th. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Argus boosted their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, BMO Capital Markets decreased their target price on 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. 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 company’s stock. According to MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Buy” and a consensus price target 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.