Signature Wealth Management Partners LLC Acquires Shares of 3,000 Novo Nordisk A/S $NVO

Signature Wealth Management Partners LLC acquired a new stake in shares of Novo Nordisk A/S (NYSE:NVO) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 3,000 shares of the company’s stock, valued at approximately $207,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of NVO. Copeland Capital Management LLC lifted its holdings in Novo Nordisk A/S by 184.8% in 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 last quarter. North Capital Inc. bought a new position in Novo Nordisk A/S in the first quarter worth about $27,000. Stone House Investment Management LLC bought a new position in Novo Nordisk A/S in the first quarter worth about $30,000. Disciplina Capital Management LLC lifted its holdings in Novo Nordisk A/S by 162.3% in 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 last quarter. Finally, Spirit of America Management Corp NY bought a new position in Novo Nordisk A/S in the first quarter worth about $35,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NVO opened at $59.68 on Friday. The business’s 50 day moving average is $54.92 and its 200-day moving average is $63.84. The stock has a market cap of $266.45 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 2.25 and a beta of 0.68. 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.

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, beating analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $11.69 billion for 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, analysts predict 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 declared a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were issued a dividend of $0.4119 per share. This represents a dividend 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%.

Analyst Ratings Changes

A number of brokerages have issued reports on NVO. Hsbc Global Res raised shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Wednesday. TD Cowen cut their target price on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, August 19th. Wall Street Zen cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Berenberg Bank raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Wednesday, September 17th. Finally, Rothschild Redb raised shares of 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.