Legacy Financial Advisors Inc. Buys 772 Shares of Novo Nordisk A/S (NYSE:NVO)

Legacy Financial Advisors Inc. boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 6.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,492 shares of the company’s stock after purchasing an additional 772 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Novo Nordisk A/S were worth $1,926,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ensign Peak Advisors Inc lifted its holdings in shares of Novo Nordisk A/S by 32.5% during the second quarter. Ensign Peak Advisors Inc now owns 785,551 shares of the company’s stock worth $112,130,000 after buying an additional 192,541 shares in the last quarter. TPG Advisors LLC acquired a new stake in shares of Novo Nordisk A/S during the second quarter worth $276,000. AE Wealth Management LLC lifted its holdings in shares of Novo Nordisk A/S by 161.5% during the second quarter. AE Wealth Management LLC now owns 19,319 shares of the company’s stock worth $2,758,000 after buying an additional 11,930 shares in the last quarter. King Luther Capital Management Corp lifted its holdings in shares of Novo Nordisk A/S by 11.7% during the second quarter. King Luther Capital Management Corp now owns 28,171 shares of the company’s stock worth $4,021,000 after buying an additional 2,960 shares in the last quarter. Finally, Simplify Asset Management Inc. acquired a new stake in shares of Novo Nordisk A/S during the second quarter worth $5,628,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $127.51 on Friday. 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 firm has a market capitalization of $572.21 billion, a price-to-earnings ratio of 43.97, a P/E/G ratio of 1.48 and a beta of 0.42. The firm’s 50 day simple moving average is $133.13 and its 200 day simple moving average is $133.20. Novo Nordisk A/S has a 1 year low of $86.96 and a 1 year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last issued its 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 during the quarter, compared to analyst estimates of $9.91 billion. As a group, research analysts expect that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on NVO. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday, September 16th. Argus boosted their target price 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. BMO Capital Markets reduced 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. Finally, The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target on the stock. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Novo Nordisk A/S has an average rating of “Buy” and an average 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.