Novo Nordisk A/S $NVO Shares Bought by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 12.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 73,219 shares of the company’s stock after purchasing an additional 7,998 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Novo Nordisk A/S were worth $5,054,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Kingstone Capital Partners Texas LLC boosted its stake in shares of Novo Nordisk A/S by 301,443.6% in the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock worth $690,560,000 after buying an additional 10,001,898 shares during the last quarter. Folketrygdfondet boosted its position in Novo Nordisk A/S by 6.9% in the 1st quarter. Folketrygdfondet now owns 9,521,912 shares of the company’s stock worth $661,202,000 after purchasing an additional 617,974 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Novo Nordisk A/S by 11.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company’s stock worth $395,291,000 after purchasing an additional 576,900 shares in the last quarter. Sustainable Growth Advisers LP grew its stake in shares of Novo Nordisk A/S by 3.8% during the 1st quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company’s stock worth $384,923,000 after purchasing an additional 202,443 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Novo Nordisk A/S during the 1st quarter valued at approximately $370,272,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on NVO shares. Barclays reissued an “equal weight” rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. HSBC set a $70.00 target price on Novo Nordisk A/S in a research report on Wednesday, October 1st. Wall Street Zen lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Rothschild & Co Redburn upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 16th. Finally, Rothschild Redb raised Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.50.

Novo Nordisk A/S Trading Up 0.1%

Shares of Novo Nordisk A/S stock opened at $59.67 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $120.56. The firm has a market capitalization of $266.43 billion, a PE ratio of 16.39, a P/E/G ratio of 2.63 and a beta of 0.68. The firm’s 50-day moving average price is $54.73 and its 200 day moving average price is $63.51.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $11.69 billion during 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%. On average, sell-side analysts predict 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 announced a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were paid a dividend of $0.4119 per share. This represents a yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S’s payout ratio is 22.53%.

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.