Grimes & Company Inc. Increases Stake in Novo Nordisk A/S $NVO

Grimes & Company Inc. lifted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 17.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,356 shares of the company’s stock after acquiring an additional 18,403 shares during the period. Grimes & Company Inc.’s holdings in Novo Nordisk A/S were worth $8,652,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Revolve Wealth Partners LLC increased its position in Novo Nordisk A/S by 8.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock worth $214,000 after purchasing an additional 200 shares in the last quarter. Rhumbline Advisers increased its position in Novo Nordisk A/S by 10.2% during the 1st quarter. Rhumbline Advisers now owns 63,539 shares of the company’s stock worth $4,412,000 after purchasing an additional 5,898 shares in the last quarter. Pines Wealth Management LLC increased its position in Novo Nordisk A/S by 69.1% during the 1st quarter. Pines Wealth Management LLC now owns 6,481 shares of the company’s stock worth $450,000 after purchasing an additional 2,648 shares in the last quarter. Independence Bank of Kentucky increased its position in Novo Nordisk A/S by 8.1% during the 1st quarter. Independence Bank of Kentucky now owns 14,260 shares of the company’s stock worth $990,000 after purchasing an additional 1,070 shares in the last quarter. Finally, Princeton Global Asset Management LLC increased its position in Novo Nordisk A/S by 52.8% during the 1st quarter. Princeton Global Asset Management LLC now owns 4,250 shares of the company’s stock worth $295,000 after purchasing an additional 1,469 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Up 1.6%

Shares of NYSE:NVO opened at $59.68 on Monday. Novo Nordisk A/S has a 52-week low of $45.05 and a 52-week high of $120.56. 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 company has a market capitalization of $266.45 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 2.63 and a beta of 0.68. The company has a 50 day moving average of $54.92 and a two-hundred day moving average of $63.63.

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. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The business had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. As a group, analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Analyst Upgrades and Downgrades

NVO has been the subject of a number of research analyst reports. Sanford C. Bernstein raised shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 9th. HSBC set a $70.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday. Rothschild & Co Redburn raised shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 16th. Berenberg Bank raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. Finally, Zacks Research raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and an average target price of $77.50.

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.