25,162 Shares in Novo Nordisk A/S (NYSE:NVO) Purchased by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. purchased a new stake in shares of Novo Nordisk A/S (NYSE:NVO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 25,162 shares of the company’s stock, valued at approximately $3,592,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fidelis Capital Partners LLC raised its holdings in shares of Novo Nordisk A/S by 6.2% during the second quarter. Fidelis Capital Partners LLC now owns 9,813 shares of the company’s stock valued at $1,401,000 after acquiring an additional 573 shares in the last quarter. Epoch Investment Partners Inc. increased its position in Novo Nordisk A/S by 4.5% during the 2nd quarter. Epoch Investment Partners Inc. now owns 14,132 shares of the company’s stock valued at $2,017,000 after purchasing an additional 614 shares during the period. Frank Rimerman Advisors LLC raised its holdings in Novo Nordisk A/S by 14,835.8% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 43,015 shares of the company’s stock worth $6,140,000 after purchasing an additional 42,727 shares in the last quarter. Holderness Investments Co. lifted its position in shares of Novo Nordisk A/S by 6.8% in the 2nd quarter. Holderness Investments Co. now owns 16,503 shares of the company’s stock worth $2,356,000 after purchasing an additional 1,056 shares during the period. Finally, Merriman Wealth Management LLC lifted its position in shares of Novo Nordisk A/S by 6.7% in the 2nd quarter. Merriman Wealth Management LLC now owns 2,325 shares of the company’s stock worth $332,000 after purchasing an additional 145 shares during the period. Institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on NVO shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday, September 16th. Argus upped their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. BMO Capital Markets lowered their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, The Goldman Sachs Group began coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective for the company. 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 data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Buy” and an average target price of $145.17.

Novo Nordisk A/S Stock Down 5.5 %

NVO stock opened at $127.51 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average of $133.13 and a 200 day moving average of $133.26. Novo Nordisk A/S has a twelve month low of $86.96 and a twelve month high of $148.15. The firm has a market cap of $572.21 billion, a PE ratio of 43.97, a price-to-earnings-growth ratio of 1.48 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last issued 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 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%. On average, research analysts forecast that Novo Nordisk A/S will post 3.11 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

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.