PFG Investments LLC Acquires 4,859 Shares of Novo Nordisk A/S $NVO

PFG Investments LLC increased its position in Novo Nordisk A/S (NYSE:NVO) by 26.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,961 shares of the company’s stock after purchasing an additional 4,859 shares during the quarter. PFG Investments LLC’s holdings in Novo Nordisk A/S were worth $1,585,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Copeland Capital Management LLC increased its stake in shares of Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock valued at $27,000 after buying an additional 255 shares in the last quarter. North Capital Inc. bought a new position in shares of Novo Nordisk A/S during the 1st quarter valued at about $27,000. Stone House Investment Management LLC bought a new stake in Novo Nordisk A/S in the 1st quarter valued at approximately $30,000. Disciplina Capital Management LLC lifted its stake in Novo Nordisk A/S by 162.3% in the 1st quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock valued at $33,000 after acquiring an additional 297 shares in the last quarter. Finally, Spirit of America Management Corp NY acquired a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at approximately $35,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $59.15 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The business has a 50 day moving average of $55.40 and a 200 day moving average of $64.13. The company has a market capitalization of $264.08 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 2.13 and a beta of 0.68. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $120.56.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The firm had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. On average, sell-side analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were given a dividend of $0.4119 per share. This represents a yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio is 22.53%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NVO shares. BNP Paribas raised Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a report on Wednesday, August 13th. BNP Paribas Exane upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price target on the stock in a report on Wednesday, August 13th. Rothschild & Co Redburn upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, September 16th. TD Cowen reduced their target price on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, August 19th. Finally, Dbs Bank raised Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Hold” and an average price target of $77.50.

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.