Koshinski Asset Management Inc. Raises Stock Position in Novo Nordisk A/S $NVO

Koshinski Asset Management Inc. raised its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 7.4% during the second quarter, Holdings Channel.com reports. The fund owned 16,718 shares of the company’s stock after buying an additional 1,148 shares during the period. Koshinski Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $1,154,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Unified Investment Management purchased a new position in Novo Nordisk A/S in the 2nd quarter worth approximately $692,000. Acadian Asset Management LLC raised its position in shares of Novo Nordisk A/S by 15,919.9% during the first quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock valued at $72,523,000 after buying an additional 1,038,137 shares during the last quarter. Norden Group LLC lifted its holdings in shares of Novo Nordisk A/S by 216.3% in the second quarter. Norden Group LLC now owns 96,332 shares of the company’s stock worth $6,649,000 after buying an additional 65,877 shares in the last quarter. Guild Investment Management Inc. lifted its holdings in shares of Novo Nordisk A/S by 20.7% in the second quarter. Guild Investment Management Inc. now owns 36,995 shares of the company’s stock worth $2,553,000 after buying an additional 6,345 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Novo Nordisk A/S by 48.7% during the second quarter. Farther Finance Advisors LLC now owns 103,138 shares of the company’s stock worth $7,119,000 after acquiring an additional 33,794 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Rothschild Redb upgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 16th. Barclays restated an “equal weight” rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Berenberg Bank upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. UBS Group lowered Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 5th. Finally, Zacks Research raised Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and a consensus target price of $76.00.

Novo Nordisk A/S Trading Down 3.0%

Shares of NYSE NVO opened at $54.41 on Friday. The business’s 50 day moving average is $56.24 and its two-hundred day moving average is $62.72. 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 has a 1-year low of $45.05 and a 1-year high of $118.26. The stock has a market capitalization of $242.93 billion, a P/E ratio of 14.95, a PEG ratio of 2.50 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. The business had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. As a group, research analysts expect that Novo Nordisk A/S will post 3.84 EPS 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 given a dividend of $0.4119 per share. The ex-dividend date was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s payout ratio is 22.53%.

Novo Nordisk A/S Company 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.