Naviter Wealth LLC Raises Stake in Novo Nordisk A/S $NVO

Naviter Wealth LLC raised its position in Novo Nordisk A/S (NYSE:NVO) by 9.9% in the second quarter, Holdings Channel reports. The fund owned 59,734 shares of the company’s stock after buying an additional 5,361 shares during the period. Naviter Wealth LLC’s holdings in Novo Nordisk A/S were worth $4,123,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NVO. Copeland Capital Management LLC raised its holdings in Novo Nordisk A/S by 184.8% during the first quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock worth $27,000 after purchasing an additional 255 shares in the last quarter. North Capital Inc. acquired a new stake in Novo Nordisk A/S during the first quarter worth approximately $27,000. Stone House Investment Management LLC acquired a new stake in Novo Nordisk A/S during the first quarter worth approximately $30,000. Disciplina Capital Management LLC raised its holdings in Novo Nordisk A/S by 162.3% during the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock worth $33,000 after purchasing an additional 297 shares in the last quarter. Finally, Spirit of America Management Corp NY acquired a new stake in Novo Nordisk A/S during the first quarter worth approximately $35,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $57.51 on Tuesday. The firm’s fifty day simple moving average is $55.61 and its 200-day simple moving average is $63.03. The stock has a market capitalization of $256.76 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 2.58 and a beta of 0.68. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $120.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $11.69 billion for the quarter, compared to analysts’ expectations of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. As a group, equities analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

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

Analyst Ratings Changes

A number of analysts have weighed in on NVO shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Novo Nordisk A/S in a report on Saturday, September 27th. TD Cowen cut their price objective on shares of 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. Morgan Stanley cut shares of Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and cut their price objective for the stock from $59.00 to $47.00 in a report on Monday, September 29th. BNP Paribas Exane raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 target price on the stock in a report on Wednesday, August 13th. Finally, Rothschild Redb raised shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” 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.