Edge Capital Group LLC Has $8.47 Million Position in Novo Nordisk A/S (NYSE:NVO)

Edge Capital Group LLC lessened its stake in Novo Nordisk A/S (NYSE:NVO) by 17.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 59,369 shares of the company’s stock after selling 12,447 shares during the period. Edge Capital Group LLC’s holdings in Novo Nordisk A/S were worth $8,474,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NVO. EverSource Wealth Advisors LLC boosted its holdings in Novo Nordisk A/S by 9.4% in the second quarter. EverSource Wealth Advisors LLC now owns 23,798 shares of the company’s stock valued at $3,156,000 after acquiring an additional 2,038 shares during the last quarter. Gabelli Funds LLC boosted its stake in shares of Novo Nordisk A/S by 35.7% in the 2nd quarter. Gabelli Funds LLC now owns 46,963 shares of the company’s stock valued at $6,703,000 after purchasing an additional 12,363 shares during the last quarter. Dalton Investments Inc. acquired a new stake in shares of Novo Nordisk A/S during the second quarter worth $1,299,000. Itau Unibanco Holding S.A. bought a new position in Novo Nordisk A/S during the second quarter worth $3,592,000. Finally, Fidelis Capital Partners LLC lifted its holdings in Novo Nordisk A/S by 6.2% in the second quarter. Fidelis Capital Partners LLC now owns 9,813 shares of the company’s stock valued at $1,401,000 after buying an additional 573 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several 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 research report on Wednesday. The Goldman Sachs Group started coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target on the stock. Argus increased their price target 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 price objective on shares of 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. Finally, Cantor Fitzgerald reiterated 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. One research 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $145.17.

Novo Nordisk A/S Trading Down 5.5 %

NYSE NVO opened at $127.51 on Friday. Novo Nordisk A/S has a 52 week low of $86.96 and a 52 week high of $148.15. The business has a 50 day moving average price of $133.13 and a 200-day moving average price of $133.26. 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 company has a market cap 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.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 EPS 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 business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. As a group, equities 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. Stockholders of record on Friday, August 16th were issued a $0.5126 dividend. The ex-dividend date 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.