Hussman Strategic Advisors Inc. Has $6 Million Stake in Novo Nordisk A/S (NYSE:NVO)

Hussman Strategic Advisors Inc. increased its stake in Novo Nordisk A/S (NYSE:NVO) by 33.3% in the second quarter, Holdings Channel reports. The institutional investor owned 42,000 shares of the company’s stock after acquiring an additional 10,500 shares during the period. Novo Nordisk A/S makes up about 1.7% of Hussman Strategic Advisors Inc.’s investment portfolio, making the stock its biggest holding. Hussman Strategic Advisors Inc.’s holdings in Novo Nordisk A/S were worth $5,995,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of NVO. Choreo LLC increased its stake in shares of Novo Nordisk A/S by 6.7% during the fourth quarter. Choreo LLC now owns 3,108 shares of the company’s stock valued at $322,000 after buying an additional 194 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Novo Nordisk A/S by 20.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 236,577 shares of the company’s stock valued at $24,474,000 after buying an additional 40,524 shares during the period. Aveo Capital Partners LLC purchased a new position in shares of Novo Nordisk A/S during the fourth quarter valued at $205,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Novo Nordisk A/S by 452.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 23,827 shares of the company’s stock valued at $2,465,000 after buying an additional 19,517 shares during the period. Finally, 9258 Wealth Management LLC grew its stake in Novo Nordisk A/S by 4.0% in the fourth quarter. 9258 Wealth Management LLC now owns 2,513 shares of the company’s stock valued at $260,000 after purchasing an additional 97 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Up 1.2 %

Shares of NVO traded up $1.64 during midday trading on Friday, hitting $139.16. The company had a trading volume of 2,718,338 shares, compared to its average volume of 4,187,164. The company’s 50-day simple moving average is $135.76 and its 200-day simple moving average is $132.15. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The firm has a market capitalization of $624.48 billion, a P/E ratio of 47.99, a P/E/G ratio of 1.52 and a beta of 0.41. Novo Nordisk A/S has a 1 year low of $86.96 and a 1 year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last issued its 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 87.43% and a net margin of 34.86%. The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. As a group, sell-side analysts expect that Novo Nordisk A/S will post 3.11 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were given a dividend of $0.5126 per share. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.83%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NVO shares. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price for the company. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Monday, August 19th. Argus boosted their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday, August 19th. Finally, BMO Capital Markets reduced their target price on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $145.17.

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.