Gabelli Funds LLC Buys 12,363 Shares of Novo Nordisk A/S (NYSE:NVO)

Gabelli Funds LLC grew its position in shares of Novo Nordisk A/S (NYSE:NVO) by 35.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,963 shares of the company’s stock after buying an additional 12,363 shares during the quarter. Gabelli Funds LLC’s holdings in Novo Nordisk A/S were worth $6,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of NVO. Aveo Capital Partners LLC purchased a new position in shares of Novo Nordisk A/S in the fourth quarter worth approximately $205,000. 9258 Wealth Management LLC boosted its stake in shares of Novo Nordisk A/S by 4.0% during the 4th quarter. 9258 Wealth Management LLC now owns 2,513 shares of the company’s stock worth $260,000 after acquiring an additional 97 shares during the last quarter. Rollins Financial increased its stake in shares of Novo Nordisk A/S by 10.4% in the 4th quarter. Rollins Financial now owns 3,894 shares of the company’s stock worth $403,000 after purchasing an additional 368 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Novo Nordisk A/S by 38.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock worth $9,781,000 after purchasing an additional 26,067 shares during the period. Finally, Gryphon Financial Partners LLC purchased a new position in Novo Nordisk A/S during the fourth quarter valued at $237,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NVO. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 18th. The Goldman Sachs Group assumed coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price for the company. BMO Capital Markets cut their price target 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. Argus boosted their price objective on 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, 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 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 stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $145.17.

Novo Nordisk A/S Stock Up 1.4 %

NVO opened at $125.48 on Wednesday. The company has a market capitalization of $563.10 billion, a PE ratio of 43.27, a price-to-earnings-growth ratio of 1.48 and a beta of 0.42. The firm has a 50-day simple moving average of $132.47 and a two-hundred day simple moving average of $133.18. 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 has a 52 week low of $86.96 and a 52 week high of $148.15.

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). The firm 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%. Analysts forecast that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were given a $0.5126 dividend. This represents a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. 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.