Novo Nordisk A/S $NVO Shares Purchased by Renaissance Investment Group LLC

Renaissance Investment Group LLC raised its position in Novo Nordisk A/S (NYSE:NVO) by 8.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,699 shares of the company’s stock after acquiring an additional 2,498 shares during the quarter. Renaissance Investment Group LLC’s holdings in Novo Nordisk A/S were worth $2,257,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NVO. Lifestyle Asset Management Inc. raised its holdings in shares of Novo Nordisk A/S by 61.4% in the 2nd quarter. Lifestyle Asset Management Inc. now owns 4,674 shares of the company’s stock valued at $323,000 after purchasing an additional 1,778 shares in the last quarter. Beacon Financial Group raised its stake in Novo Nordisk A/S by 43.2% in the second quarter. Beacon Financial Group now owns 4,129 shares of the company’s stock valued at $285,000 after buying an additional 1,245 shares in the last quarter. Range Financial Group LLC raised its stake in Novo Nordisk A/S by 3.1% in the second quarter. Range Financial Group LLC now owns 11,491 shares of the company’s stock valued at $793,000 after buying an additional 350 shares in the last quarter. Atwood & Palmer Inc. lifted its holdings in Novo Nordisk A/S by 31.8% during the 2nd quarter. Atwood & Palmer Inc. now owns 737 shares of the company’s stock worth $51,000 after buying an additional 178 shares during the last quarter. Finally, Atlas Brown Inc. boosted its position in shares of Novo Nordisk A/S by 11.5% during the 2nd quarter. Atlas Brown Inc. now owns 9,025 shares of the company’s stock worth $623,000 after acquiring an additional 933 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $55.62 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. The stock’s 50 day moving average is $57.69 and its two-hundred day moving average is $65.92. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $138.22. The firm has a market capitalization of $248.34 billion, a PE ratio of 15.28, a P/E/G ratio of 2.08 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The business had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. Research analysts anticipate 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 announced a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were issued a $0.4119 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio (DPR) is 22.53%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NVO shares. Sanford C. Bernstein raised Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 9th. BNP Paribas Exane raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price objective on the stock in a report on Wednesday, August 13th. Hsbc Global Res cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. UBS Group downgraded shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 5th. Finally, Zacks Research cut shares of Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 20th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $81.00.

Novo Nordisk A/S 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.