Savvy Advisors Inc. Raises Position in Novo Nordisk A/S $NVO

Savvy Advisors Inc. lifted its stake in Novo Nordisk A/S (NYSE:NVO) by 122.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,686 shares of the company’s stock after purchasing an additional 14,672 shares during the period. Savvy Advisors Inc.’s holdings in Novo Nordisk A/S were worth $1,842,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. North Capital Inc. acquired a new stake in Novo Nordisk A/S in the 1st quarter valued at about $27,000. Stone House Investment Management LLC purchased a new stake in shares of Novo Nordisk A/S during the first quarter worth approximately $30,000. Disciplina Capital Management LLC increased its stake in shares of 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 buying an additional 297 shares during the period. Dagco Inc. acquired a new stake in Novo Nordisk A/S in the first quarter valued at approximately $35,000. Finally, Mid American Wealth Advisory Group Inc. purchased a new position in Novo Nordisk A/S in the second quarter worth approximately $37,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Down 2.6%

Novo Nordisk A/S stock opened at $50.03 on Friday. The company has a market capitalization of $223.38 billion, a P/E ratio of 13.74, a PEG ratio of 2.33 and a beta of 0.68. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $113.02. The stock has a 50-day simple moving average of $56.32 and a 200-day simple moving average of $62.05.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.93 by $0.04. The company had revenue of $11.69 billion for 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%. Equities research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

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

Analysts Set New Price Targets

Several research analysts have commented on NVO shares. 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 report on Tuesday, August 19th. BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 target price for the company in a research note on Wednesday, August 13th. Hsbc Global Res raised Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. UBS Group cut Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 5th. Finally, Rothschild & Co Redburn raised Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Novo Nordisk A/S currently has an average rating of “Hold” and a consensus target price of $76.00.

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.