Red Mountain Financial LLC Takes Position in Novo Nordisk A/S $NVO

Red Mountain Financial LLC bought a new position in shares of Novo Nordisk A/S (NYSE:NVO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,270 shares of the company’s stock, valued at approximately $157,000.

Other institutional investors have also modified their holdings of the company. North Capital Inc. purchased a new position in shares of Novo Nordisk A/S during the first quarter worth approximately $27,000. Copeland Capital Management LLC increased its position in shares of Novo Nordisk A/S by 184.8% during the first quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock worth $27,000 after acquiring an additional 255 shares during the period. Stone House Investment Management LLC purchased a new position in shares of Novo Nordisk A/S during the first quarter worth approximately $30,000. Disciplina Capital Management LLC increased its position 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 acquiring an additional 297 shares during the period. Finally, Spirit of America Management Corp NY purchased a new position in shares of Novo Nordisk A/S during the first quarter worth approximately $35,000. 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 $58.77 on Friday. The company has a market cap of $262.42 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 2.27 and a beta of 0.68. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month 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 50 day moving average of $55.16 and a two-hundred day moving average of $63.98.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. The company had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. As a group, analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Analyst Ratings Changes

A number of brokerages have recently commented on NVO. 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. Morgan Stanley downgraded shares of Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and dropped their price objective for the company from $59.00 to $47.00 in a research note on Monday. Barclays reiterated an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Hsbc Global Res upgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Finally, HSBC set a $70.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and an average price target of $77.50.

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.