Diversified Enterprises LLC Increases Stake in Novo Nordisk A/S $NVO

Diversified Enterprises LLC grew its position in Novo Nordisk A/S (NYSE:NVO) by 7.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 8,707 shares of the company’s stock after purchasing an additional 638 shares during the period. Diversified Enterprises LLC’s holdings in Novo Nordisk A/S were worth $601,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Copeland Capital Management LLC raised its stake in shares of Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock valued at $27,000 after acquiring an additional 255 shares during the period. North Capital Inc. bought a new position in shares of Novo Nordisk A/S in the first quarter worth about $27,000. Park Square Financial Group LLC bought a new position in shares of Novo Nordisk A/S in the fourth quarter worth about $29,000. Stone House Investment Management LLC bought a new position in shares of Novo Nordisk A/S in the first quarter worth about $30,000. Finally, Disciplina Capital Management LLC grew its holdings in shares of Novo Nordisk A/S by 162.3% in the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock worth $33,000 after purchasing an additional 297 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on NVO. Rothschild & Co Redburn upgraded shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, September 16th. HSBC cut 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 report on Thursday, July 31st. BNP Paribas Exane upgraded 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 report on Wednesday, August 13th. TD Cowen dropped their target price on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, August 19th. Finally, Hsbc Global Res cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Hold” and a consensus target price of $81.00.

Novo Nordisk A/S Stock Down 0.8%

Shares of Novo Nordisk A/S stock opened at $55.61 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $121.34. The firm’s 50-day moving average is $56.03 and its two-hundred day moving average is $64.53. The stock has a market cap of $248.30 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 2.12 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $11.69 billion for the quarter, compared to analysts’ expectations of $77.51 billion. As a group, research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

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.