Novo Nordisk A/S $NVO Shares Acquired by IFP Advisors Inc

IFP Advisors Inc lifted its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 32.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 11,321 shares of the company’s stock after buying an additional 2,805 shares during the period. IFP Advisors Inc’s holdings in Novo Nordisk A/S were worth $781,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NVO. Copeland Capital Management LLC raised its position in shares of Novo Nordisk A/S by 184.8% during the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock worth $27,000 after acquiring an additional 255 shares in the last quarter. North Capital Inc. acquired a new position in Novo Nordisk A/S during the first quarter worth approximately $27,000. Stone House Investment Management LLC acquired a new position in Novo Nordisk A/S during the first quarter worth approximately $30,000. Disciplina Capital Management LLC increased its position in Novo Nordisk A/S by 162.3% during the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock worth $33,000 after buying an additional 297 shares during the period. Finally, Spirit of America Management Corp NY acquired a new position in Novo Nordisk A/S during the first quarter worth approximately $35,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on NVO. BNP Paribas Exane raised 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. Rothschild Redb raised Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 16th. TD Cowen cut their price target on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, August 19th. UBS Group lowered Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 5th. Finally, Berenberg Bank raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average target price of $77.50.

Novo Nordisk A/S Trading Up 1.0%

Shares of NVO stock opened at $57.51 on Tuesday. The business’s 50 day moving average is $55.61 and its two-hundred day moving average is $63.03. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $120.47. The company has a market capitalization of $256.76 billion, a P/E ratio of 15.80, a price-to-earnings-growth ratio of 2.58 and a beta of 0.68. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The company had revenue of $11.69 billion for the quarter, compared to the consensus estimate of $77.51 billion. Equities analysts forecast that Novo Nordisk A/S will post 3.84 EPS 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. Investors of record on Monday, August 18th were issued a dividend of $0.4119 per share. This represents a yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio is currently 22.53%.

About Novo Nordisk A/S

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.