Strong Tower Advisory Services Has $3.07 Million Holdings in Novo Nordisk A/S $NVO

Strong Tower Advisory Services lifted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 4.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,420 shares of the company’s stock after acquiring an additional 1,866 shares during the period. Strong Tower Advisory Services’ holdings in Novo Nordisk A/S were worth $3,066,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NVO. Unified Investment Management acquired a new position in shares of Novo Nordisk A/S during the second quarter worth about $692,000. Acadian Asset Management LLC boosted its position in shares of Novo Nordisk A/S by 15,919.9% during the first quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock worth $72,523,000 after buying an additional 1,038,137 shares during the period. Norden Group LLC boosted its position in shares of Novo Nordisk A/S by 216.3% during the second quarter. Norden Group LLC now owns 96,332 shares of the company’s stock worth $6,649,000 after buying an additional 65,877 shares during the period. Guild Investment Management Inc. boosted its position in shares of Novo Nordisk A/S by 20.7% during the second quarter. Guild Investment Management Inc. now owns 36,995 shares of the company’s stock worth $2,553,000 after buying an additional 6,345 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in shares of Novo Nordisk A/S by 48.7% during the second quarter. Farther Finance Advisors LLC now owns 103,138 shares of the company’s stock worth $7,119,000 after buying an additional 33,794 shares during the period. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Price Performance

NYSE:NVO opened at $56.95 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average price is $55.44 and its two-hundred day moving average price is $63.22. The firm has a market capitalization of $254.27 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 2.65 and a beta of 0.68. Novo Nordisk A/S has a 12-month low of $45.05 and a 12-month high of $120.56.

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

Novo Nordisk A/S Cuts Dividend

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on NVO shares. BNP Paribas Exane raised Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price objective for the company in a research report on Wednesday, August 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Novo Nordisk A/S in a report on Saturday, September 27th. Rothschild & Co Redburn upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, September 16th. Dbs Bank upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Friday, August 22nd. Finally, BNP Paribas upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.50.

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.