Old Port Advisors Grows Holdings in Novo Nordisk A/S $NVO

Old Port Advisors grew its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 12.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,466 shares of the company’s stock after buying an additional 388 shares during the quarter. Old Port Advisors’ holdings in Novo Nordisk A/S were worth $239,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC boosted its holdings in shares of Novo Nordisk A/S by 8.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock worth $214,000 after purchasing an additional 200 shares in the last quarter. Moody National Bank Trust Division bought a new stake in Novo Nordisk A/S in the 1st quarter worth approximately $224,000. AdvisorNet Financial Inc boosted its stake in Novo Nordisk A/S by 34.0% in the first quarter. AdvisorNet Financial Inc now owns 3,741 shares of the company’s stock worth $260,000 after buying an additional 950 shares in the last quarter. GAMMA Investing LLC grew its position in Novo Nordisk A/S by 7,508.7% during the first quarter. GAMMA Investing LLC now owns 657,319 shares of the company’s stock valued at $45,644,000 after acquiring an additional 648,680 shares during the last quarter. Finally, BTC Capital Management Inc. raised its stake in shares of Novo Nordisk A/S by 3.2% during the first quarter. BTC Capital Management Inc. now owns 10,958 shares of the company’s stock worth $761,000 after acquiring an additional 344 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NVO has been the topic of several recent research reports. TD Cowen reduced 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. UBS Group downgraded Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a report on Tuesday, August 5th. BNP Paribas Exane raised Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 target price for the company in a research note on Wednesday, August 13th. Dbs Bank upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Friday, August 22nd. Finally, Berenberg Bank upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $81.00.

Novo Nordisk A/S Price Performance

NVO opened at $55.61 on Friday. The company’s 50-day simple moving average is $56.03 and its two-hundred day simple moving average is $64.46. 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 capitalization of $248.30 billion, a P/E ratio of 15.28, a P/E/G ratio of 2.11 and a beta of 0.66. Novo Nordisk A/S has a 52-week low of $45.05 and a 52-week high of $121.34.

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

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were issued a $0.4119 dividend. 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 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.