Raymond James Trust N.A. Purchases 1,347 Shares of Novo Nordisk A/S (NYSE:NVO)

Raymond James Trust N.A. grew its position in Novo Nordisk A/S (NYSE:NVOGet Rating) by 5.3% in the second quarter, HoldingsChannel.com reports. The firm owned 26,600 shares of the company’s stock after acquiring an additional 1,347 shares during the period. Raymond James Trust N.A.’s holdings in Novo Nordisk A/S were worth $2,964,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NVO. MML Investors Services LLC lifted its holdings in shares of Novo Nordisk A/S by 6.2% in the fourth quarter. MML Investors Services LLC now owns 42,938 shares of the company’s stock worth $4,809,000 after buying an additional 2,509 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Novo Nordisk A/S by 15.4% in the first quarter. American Century Companies Inc. now owns 110,941 shares of the company’s stock worth $12,320,000 after buying an additional 14,816 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of Novo Nordisk A/S by 75.8% in the fourth quarter. Westwood Holdings Group Inc. now owns 13,282 shares of the company’s stock worth $1,487,000 after buying an additional 5,726 shares in the last quarter. Cetera Advisor Networks LLC lifted its holdings in shares of Novo Nordisk A/S by 22.8% in the first quarter. Cetera Advisor Networks LLC now owns 20,220 shares of the company’s stock worth $2,245,000 after buying an additional 3,753 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. lifted its holdings in shares of Novo Nordisk A/S by 1.4% in the first quarter. Ipswich Investment Management Co. Inc. now owns 52,380 shares of the company’s stock worth $5,817,000 after buying an additional 710 shares in the last quarter. 6.62% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Trading Down 0.9 %

NYSE NVO opened at $98.31 on Friday. The company’s 50-day moving average price is $107.60 and its 200-day moving average price is $109.28. The company has a current ratio of 0.94, a quick ratio of 0.74 and a debt-to-equity ratio of 0.32. The stock has a market cap of $222.47 billion, a PE ratio of 29.35, a PEG ratio of 1.77 and a beta of 0.47. Novo Nordisk A/S has a 12 month low of $91.51 and a 12 month high of $122.16.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, August 23rd. Stockholders of record on Monday, August 15th were issued a $0.5836 dividend. This represents a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 12th. Novo Nordisk A/S’s payout ratio is presently 24.18%.

Analysts Set New Price Targets

NVO has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised shares of Novo Nordisk A/S from a “neutral” rating to an “overweight” rating in a research note on Tuesday, June 7th. UBS Group downgraded shares of Novo Nordisk A/S from a “neutral” rating to a “sell” rating in a research note on Tuesday, June 28th. BNP Paribas raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $750.00 price target on the stock in a research note on Monday, June 27th. Morgan Stanley raised shares of Novo Nordisk A/S from an “equal weight” rating to an “overweight” rating in a research note on Friday, July 15th. Finally, Exane BNP Paribas raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a 750.00 price target on the stock in a research note on Monday, June 27th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Novo Nordisk A/S has an average rating of “Moderate Buy” and an average price target of $682.43.

Novo Nordisk A/S Company Profile

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Novo Nordisk A/S, a healthcare company, engages in the research, development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes and Obesity care, and Biopharm. The Diabetes and Obesity care segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral antidiabetic products, obesity, and other chronic diseases.

Further Reading

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Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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