Obermeyer Wealth Partners Grows Stock Holdings in Novo Nordisk A/S $NVO

Obermeyer Wealth Partners grew its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 188.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 393,332 shares of the company’s stock after purchasing an additional 257,158 shares during the period. Novo Nordisk A/S comprises 1.4% of Obermeyer Wealth Partners’ investment portfolio, making the stock its 27th largest holding. Obermeyer Wealth Partners’ holdings in Novo Nordisk A/S were worth $27,148,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. First Hawaiian Bank boosted its stake in shares of Novo Nordisk A/S by 0.6% in the first quarter. First Hawaiian Bank now owns 22,401 shares of the company’s stock valued at $1,556,000 after purchasing an additional 142 shares during the period. Anchor Investment Management LLC raised its holdings in Novo Nordisk A/S by 1.1% in the first quarter. Anchor Investment Management LLC now owns 13,597 shares of the company’s stock valued at $944,000 after acquiring an additional 150 shares in the last quarter. Xponance Inc. raised its holdings in Novo Nordisk A/S by 5.0% in the first quarter. Xponance Inc. now owns 3,314 shares of the company’s stock valued at $230,000 after acquiring an additional 158 shares in the last quarter. Foster Dykema Cabot & Partners LLC raised its holdings in Novo Nordisk A/S by 3.8% in the first quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company’s stock valued at $319,000 after acquiring an additional 166 shares in the last quarter. Finally, Werba Rubin Papier Wealth Management raised its holdings in Novo Nordisk A/S by 4.1% in the second quarter. Werba Rubin Papier Wealth Management now owns 4,378 shares of the company’s stock valued at $302,000 after acquiring an additional 173 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NVO has been the topic of a number of research reports. Hsbc Global Res raised shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Berenberg Bank raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Wednesday, September 17th. Wall Street Zen cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Morgan Stanley cut shares of Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and dropped their price objective for the stock from $59.00 to $47.00 in a report on Monday, September 29th. Finally, Jefferies Financial Group started coverage on shares of Novo Nordisk A/S in a research note on Monday, October 27th. They set an “underperform” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $76.00.

Novo Nordisk A/S Stock Performance

NVO stock opened at $49.40 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. The stock has a market cap of $220.58 billion, a P/E ratio of 13.57, a P/E/G ratio of 2.33 and a beta of 0.68. The firm has a 50 day simple moving average of $56.17 and a 200 day simple moving average of $61.91. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $113.02.

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

Novo Nordisk A/S Cuts Dividend

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