Novo Nordisk A/S $NVO Shares Acquired by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. raised its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 40.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 78,863 shares of the company’s stock after buying an additional 22,521 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Novo Nordisk A/S were worth $5,443,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NVO. Unified Investment Management purchased a new stake in shares of Novo Nordisk A/S in the 2nd quarter valued at about $692,000. Acadian Asset Management LLC lifted its holdings in shares of Novo Nordisk A/S by 15,919.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock valued at $72,523,000 after purchasing 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 2nd quarter. Norden Group LLC now owns 96,332 shares of the company’s stock valued at $6,649,000 after purchasing an additional 65,877 shares during the last quarter. Guild Investment Management Inc. lifted its holdings in shares of Novo Nordisk A/S by 20.7% in the 2nd quarter. Guild Investment Management Inc. now owns 36,995 shares of the company’s stock valued at $2,553,000 after purchasing an additional 6,345 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Novo Nordisk A/S by 48.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 103,138 shares of the company’s stock valued at $7,119,000 after purchasing an additional 33,794 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NVO. Zacks Research raised Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Rothschild Redb raised Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 16th. Wall Street Zen downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. TD Cowen reduced their price objective on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, August 19th. Finally, Hsbc Global Res raised Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $76.00.

Novo Nordisk A/S Stock Performance

NVO opened at $55.78 on Tuesday. The stock has a market cap of $249.04 billion, a P/E ratio of 15.32, a P/E/G ratio of 2.50 and a beta of 0.68. 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 stock’s 50 day simple moving average is $56.36 and its 200 day simple moving average is $62.64. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $117.96.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results 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. 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 return on equity of 78.64% and a net margin of 35.60%. As a group, equities analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Novo Nordisk A/S 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.