Novo Nordisk A/S $NVO Position Increased by Confluence Investment Management LLC

Confluence Investment Management LLC lifted its stake in Novo Nordisk A/S (NYSE:NVO) by 8.7% in the second quarter, Holdings Channel.com reports. The firm owned 11,376 shares of the company’s stock after acquiring an additional 911 shares during the quarter. Confluence Investment Management LLC’s holdings in Novo Nordisk A/S were worth $785,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Revolve Wealth Partners LLC increased its holdings in Novo Nordisk A/S by 8.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock worth $214,000 after buying an additional 200 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Novo Nordisk A/S by 3.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 95,080 shares of the company’s stock worth $8,179,000 after buying an additional 2,920 shares during the last quarter. Quadcap Wealth Management LLC increased its holdings in Novo Nordisk A/S by 84.4% in the fourth quarter. Quadcap Wealth Management LLC now owns 3,623 shares of the company’s stock worth $312,000 after buying an additional 1,658 shares during the last quarter. Polar Asset Management Partners Inc. increased its holdings in Novo Nordisk A/S by 86.0% in the fourth quarter. Polar Asset Management Partners Inc. now owns 27,900 shares of the company’s stock worth $2,400,000 after buying an additional 12,900 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC grew its holdings in Novo Nordisk A/S by 3.1% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 127,998 shares of the company’s stock valued at $11,010,000 after purchasing an additional 3,881 shares during the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NVO has been the topic of a number of recent analyst reports. BNP Paribas Exane raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price target on the stock in a research report on Wednesday, August 13th. BNP Paribas raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research report on Wednesday, August 13th. HSBC lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $57.00 price target on the stock. in a research report on Thursday, July 31st. UBS Group downgraded shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 5th. Finally, Barclays restated an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Hold” and a consensus target price of $81.00.

Novo Nordisk A/S Stock Up 1.2%

NVO opened at $54.94 on Friday. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $138.22. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The firm’s fifty day moving average price is $57.96 and its two-hundred day moving average price is $66.33. The company has a market capitalization of $245.31 billion, a P/E ratio of 15.09, a P/E/G ratio of 2.06 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The firm had revenue of $11.69 billion for the quarter, compared to the consensus estimate of $77.51 billion. On average, analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were issued a dividend of $0.4119 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 22.53%.

Novo Nordisk A/S 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.