Novo Nordisk A/S $NVO Holdings Raised by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC increased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 8.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,947 shares of the company’s stock after purchasing an additional 947 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Novo Nordisk A/S were worth $825,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC boosted its holdings in shares of Novo Nordisk A/S by 301,443.6% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock valued at $690,560,000 after buying an additional 10,001,898 shares during the period. Nuveen LLC bought a new position in Novo Nordisk A/S in the first quarter worth about $370,272,000. Amundi boosted its stake in Novo Nordisk A/S by 49.1% in the first quarter. Amundi now owns 4,938,507 shares of the company’s stock valued at $331,576,000 after acquiring an additional 1,627,051 shares during the period. Acadian Asset Management LLC boosted its stake in Novo Nordisk A/S by 15,919.9% in the first quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock valued at $72,523,000 after acquiring an additional 1,038,137 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Novo Nordisk A/S by 118.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,594,544 shares of the company’s stock valued at $110,725,000 after purchasing an additional 864,579 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

NVO has been the topic of several recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Novo Nordisk A/S in a report on Tuesday, October 14th. Berenberg Bank upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Wednesday, September 17th. TD Cowen lowered their price target on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, August 19th. Rothschild & Co Redburn raised shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, September 16th. Finally, Rothschild Redb upgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 16th. Two equities research 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $76.00.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $54.77 on Wednesday. The firm has a market capitalization of $244.55 billion, a PE ratio of 15.05, a P/E/G ratio of 2.53 and a beta of 0.68. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $56.46 and a 200 day moving average price of $62.58. Novo Nordisk A/S has a 52-week low of $45.05 and a 52-week high of $116.65.

Novo Nordisk A/S (NYSE:NVO) last issued 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 company had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. On average, sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were issued 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 dividend payout ratio is presently 22.53%.

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.