Meridian Investment Counsel Inc. reduced its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,565 shares of the company’s stock after selling 300 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in Novo Nordisk A/S were worth $590,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. Advisors Preferred LLC bought a new stake in shares of Novo Nordisk A/S during the second quarter worth $26,000. TCG Advisors LP bought a new stake in shares of Novo Nordisk A/S during the first quarter worth $27,000. Valeo Financial Advisors LLC grew its holdings in shares of Novo Nordisk A/S by 510.7% during the second quarter. Valeo Financial Advisors LLC now owns 629 shares of the company’s stock worth $32,000 after purchasing an additional 526 shares during the last quarter. Quantamental Technologies LLC bought a new stake in shares of Novo Nordisk A/S during the first quarter worth $41,000. Finally, Bremer Bank National Association bought a new stake in shares of Novo Nordisk A/S during the first quarter worth $41,000. Hedge funds and other institutional investors own 7.36% of the company’s stock.
Novo Nordisk A/S stock traded down $1.00 during mid-day trading on Thursday, hitting $49.84. The stock had a trading volume of 82,706 shares, compared to its average volume of 1,421,670. The stock has a 50-day simple moving average of $50.81 and a two-hundred day simple moving average of $49.93. The stock has a market capitalization of $119.25 billion, a PE ratio of 19.77, a P/E/G ratio of 2.16 and a beta of 0.57. Novo Nordisk A/S has a 12 month low of $41.23 and a 12 month high of $53.55. The company has a current ratio of 1.04, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06.
Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Friday, August 9th. The company reported $0.61 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.61. The business had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.41 billion. Novo Nordisk A/S had a return on equity of 75.16% and a net margin of 32.16%. Sell-side analysts expect that Novo Nordisk A/S will post 2.45 earnings per share for the current fiscal year.
The business also recently announced a Semi-Annual dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were issued a dividend of $0.318 per share. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 25.40%.
NVO has been the topic of several research analyst reports. UBS Group restated a “buy” rating and set a $355.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, June 19th. Pareto Securities upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Jefferies Financial Group cut Novo Nordisk A/S from a “hold” rating to an “underperform” rating in a report on Friday, August 30th. Zacks Investment Research upgraded Novo Nordisk A/S from a “sell” rating to a “hold” rating and set a $50.00 target price on the stock in a report on Monday, July 15th. Finally, ValuEngine cut Novo Nordisk A/S from a “hold” rating to a “sell” rating in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. Novo Nordisk A/S currently has an average rating of “Hold” and an average target price of $111.58.
About Novo Nordisk A/S
Novo Nordisk A/S, a healthcare company, engages in the development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral anti-diabetic products, obesity, and other chronic diseases.
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