SP Asset Management LLC Invests $321,000 in Novo Nordisk A/S (NYSE:NVO)

SP Asset Management LLC acquired a new stake in shares of Novo Nordisk A/S (NYSE:NVO) in the second quarter, Holdings Channel reports. The fund acquired 2,249 shares of the company’s stock, valued at approximately $321,000.

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

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $129.76 on Wednesday. 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 company has a market capitalization of $582.30 billion, a PE ratio of 44.74, a price-to-earnings-growth ratio of 1.43 and a beta of 0.42. The stock has a fifty day moving average of $134.26 and a 200-day moving average of $132.73. Novo Nordisk A/S has a one year low of $86.96 and a one year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.06). The company had revenue of $9.82 billion for 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%. As a group, equities analysts anticipate that Novo Nordisk A/S will post 3.11 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were given a $0.5126 dividend. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend 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 several research analyst reports. 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 upped their price target 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. The Goldman Sachs Group began coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective on the stock. BMO Capital Markets cut their target price on 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and an average 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.