Novo Nordisk A/S $NVO Shares Bought by Abel Hall LLC

Abel Hall LLC grew its position in shares of Novo Nordisk A/S (NYSE:NVO) by 23.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,205 shares of the company’s stock after acquiring an additional 1,184 shares during the quarter. Abel Hall LLC’s holdings in Novo Nordisk A/S were worth $428,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Unified Investment Management acquired a new position in shares of Novo Nordisk A/S during the second quarter valued at $692,000. Acadian Asset Management LLC boosted its holdings 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 acquiring an additional 1,038,137 shares during the period. Norden Group LLC boosted its holdings in shares of Novo Nordisk A/S by 216.3% during the second quarter. Norden Group LLC now owns 96,332 shares of the company’s stock valued at $6,649,000 after acquiring an additional 65,877 shares during the period. Farther Finance Advisors LLC boosted its holdings 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 valued at $7,119,000 after acquiring an additional 33,794 shares during the period. Finally, Ridgewood Investments LLC boosted its holdings in shares of Novo Nordisk A/S by 205.4% during the second quarter. Ridgewood Investments LLC now owns 6,627 shares of the company’s stock valued at $457,000 after acquiring an additional 4,457 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock opened at $59.10 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average price is $54.84 and its two-hundred day moving average price is $63.48. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $120.56. The stock has a market cap of $263.90 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 2.66 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last issued 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. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The firm had revenue of $11.69 billion for the quarter, compared to analysts’ expectations of $77.51 billion. As a group, sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 EPS 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 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 payout ratio is 22.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. BNP Paribas raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a report on Wednesday, August 13th. Berenberg Bank raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Wednesday, September 17th. Barclays reaffirmed an “equal weight” rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Finally, Morgan Stanley downgraded shares of Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and reduced their price objective for the stock from $59.00 to $47.00 in a report on Monday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.50.

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.