Gryphon Financial Partners LLC Increases Position in Novo Nordisk A/S (NYSE:NVO)

Gryphon Financial Partners LLC increased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 56.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,086 shares of the company’s stock after purchasing an additional 1,116 shares during the quarter. Gryphon Financial Partners LLC’s holdings in Novo Nordisk A/S were worth $440,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. First PREMIER Bank purchased a new position in shares of Novo Nordisk A/S in the 1st quarter worth approximately $25,000. 1620 Investment Advisors Inc. acquired a new position in shares of Novo Nordisk A/S during the second quarter worth $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at $26,000. Orion Capital Management LLC acquired a new stake in shares of Novo Nordisk A/S in the 1st quarter worth $26,000. Finally, Gilliland Jeter Wealth Management LLC grew its stake in Novo Nordisk A/S by 200.0% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after buying an additional 120 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 1.6 %

NYSE:NVO opened at $129.76 on Wednesday. The company’s 50 day moving average is $134.26 and its two-hundred day moving average is $132.73. The company has a market cap of $582.30 billion, a PE ratio of 44.74, a P/E/G ratio of 1.43 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a twelve month low of $86.96 and a twelve month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.06). The business had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. Analysts anticipate that Novo Nordisk A/S will post 3.11 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were issued a $0.5126 dividend. 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 currently 24.83%.

Analyst Upgrades and Downgrades

NVO has been the subject of a number of research analyst reports. The Goldman Sachs Group started coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target for the company. Argus lifted 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 research note on Monday, June 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. Finally, BMO Capital Markets dropped their target price on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and a consensus target price 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.