MJP Associates Inc. ADV Buys 398 Shares of Novo Nordisk A/S (NYSE:NVO)

MJP Associates Inc. ADV boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 8.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,863 shares of the company’s stock after acquiring an additional 398 shares during the quarter. MJP Associates Inc. ADV’s holdings in Novo Nordisk A/S were worth $694,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NVO. GQG Partners LLC increased its holdings in Novo Nordisk A/S by 654.6% during the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after buying an additional 3,151,584 shares during the last quarter. Capital International Investors raised its stake in Novo Nordisk A/S by 22.3% during the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after buying an additional 1,297,536 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Novo Nordisk A/S by 1,300.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock valued at $159,703,000 after acquiring an additional 1,155,313 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Novo Nordisk A/S by 10.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after acquiring an additional 823,036 shares in the last quarter. Finally, Norden Group LLC boosted its stake in Novo Nordisk A/S by 2,456.0% during the 1st quarter. Norden Group LLC now owns 658,856 shares of the company’s stock valued at $84,597,000 after purchasing an additional 633,079 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Trading Up 4.1 %

Novo Nordisk A/S stock traded up $5.30 during midday trading on Friday, reaching $133.47. The stock had a trading volume of 7,503,650 shares, compared to its average volume of 4,552,021. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. Novo Nordisk A/S has a twelve month low of $86.96 and a twelve month high of $148.15. The firm’s fifty day simple moving average is $137.53 and its two-hundred day simple moving average is $130.11. The firm has a market cap of $598.95 billion, a price-to-earnings ratio of 46.02, a PEG ratio of 1.33 and a beta of 0.41.

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 16th will be paid a $0.5126 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio is currently 45.52%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday, August 5th. The Goldman Sachs Group began coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 price target for the company. BMO Capital Markets lowered their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Argus increased their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.17.

About Novo Nordisk A/S

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.