Copperwynd Financial LLC Has $890,000 Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Copperwynd Financial LLC raised its holdings in Novo Nordisk A/S (NYSE:NVO) by 17.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,707 shares of the company’s stock after buying an additional 998 shares during the period. Copperwynd Financial LLC’s holdings in Novo Nordisk A/S were worth $890,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in NVO. Creative Planning boosted its holdings in shares of Novo Nordisk A/S by 8.8% during the second quarter. Creative Planning now owns 281,596 shares of the company’s stock worth $40,195,000 after acquiring an additional 22,848 shares during the period. Buck Wealth Strategies LLC bought a new position in Novo Nordisk A/S during the second quarter worth about $342,000. Ascent Group LLC raised its stake in Novo Nordisk A/S by 19.1% in the 2nd quarter. Ascent Group LLC now owns 22,869 shares of the company’s stock worth $3,264,000 after purchasing an additional 3,670 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc bought a new stake in Novo Nordisk A/S in the 2nd quarter valued at about $1,624,000. Finally, Oliver Lagore Vanvalin Investment Group grew its position in shares of Novo Nordisk A/S by 10.7% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 16,421 shares of the company’s stock worth $2,344,000 after purchasing an additional 1,591 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on NVO. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday, September 16th. Argus lifted 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 note on Monday, June 10th. Finally, BMO Capital Markets cut 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. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Stock Down 2.8 %

Shares of NVO opened at $120.76 on Friday. The stock has a market capitalization of $541.91 billion, a price-to-earnings ratio of 41.64, a PEG ratio of 1.35 and a beta of 0.42. Novo Nordisk A/S has a 52 week low of $86.96 and a 52 week high of $148.15. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The stock has a fifty day moving average of $131.97 and a 200-day moving average of $132.99.

Novo Nordisk A/S (NYSE:NVO) last released 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 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 return on equity of 87.43% and a net margin of 34.86%. As a group, sell-side analysts anticipate 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 disclosed a semi-annual dividend, which was paid on Monday, August 26th. Investors 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 24.83%.

About Novo Nordisk A/S

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.