Signaturefd LLC Raises Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Signaturefd LLC boosted its holdings in Novo Nordisk A/S (NYSE:NVO) by 2.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 78,331 shares of the company’s stock after buying an additional 1,763 shares during the quarter. Signaturefd LLC’s holdings in Novo Nordisk A/S were worth $11,181,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of NVO. Cravens & Co Advisors LLC increased its position in shares of Novo Nordisk A/S by 1.0% during the 1st quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock valued at $1,059,000 after purchasing an additional 85 shares during the last quarter. AA Financial Advisors LLC increased its position in shares of Novo Nordisk A/S by 3.2% during the 2nd quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock valued at $400,000 after purchasing an additional 86 shares during the last quarter. Sage Rhino Capital LLC increased its position in shares of Novo Nordisk A/S by 0.7% during the 1st quarter. Sage Rhino Capital LLC now owns 12,320 shares of the company’s stock valued at $1,582,000 after purchasing an additional 89 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its position in shares of Novo Nordisk A/S by 0.6% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 15,421 shares of the company’s stock valued at $1,595,000 after purchasing an additional 90 shares during the last quarter. Finally, Essex LLC increased its position in shares of Novo Nordisk A/S by 2.0% during the 1st quarter. Essex LLC now owns 4,684 shares of the company’s stock valued at $601,000 after purchasing an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NYSE:NVO traded up $1.63 during mid-day trading on Friday, reaching $139.15. 2,714,705 shares of the company traded hands, compared to its average volume of 4,368,564. Novo Nordisk A/S has a 52 week low of $86.96 and a 52 week high of $148.15. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. The firm has a market cap of $624.44 billion, a PE ratio of 47.99, a PEG ratio of 1.33 and a beta of 0.41. The company’s 50 day moving average price is $135.81 and its 200-day moving average price is $131.93.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. The business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. On average, equities analysts expect that Novo Nordisk A/S will post 3.38 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were paid a $0.5126 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s payout ratio is 24.83%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NVO shares. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target for the company. BMO Capital Markets reduced their price target on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday, August 19th. Finally, Argus boosted their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.