Intellectus Partners LLC Raises Position in Novo Nordisk A/S $NVO

Intellectus Partners LLC grew its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 24.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,881 shares of the company’s stock after purchasing an additional 2,149 shares during the period. Intellectus Partners LLC’s holdings in Novo Nordisk A/S were worth $751,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Lockheed Martin Investment Management Co. grew its position in Novo Nordisk A/S by 179.4% during the 2nd quarter. Lockheed Martin Investment Management Co. now owns 43,450 shares of the company’s stock worth $2,999,000 after purchasing an additional 27,900 shares during the period. Unified Investment Management acquired a new stake in Novo Nordisk A/S during the 2nd quarter worth about $692,000. Acadian Asset Management LLC grew its position in Novo Nordisk A/S by 15,919.9% during the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock worth $72,523,000 after purchasing an additional 1,038,137 shares during the period. Guild Investment Management Inc. grew its position in Novo Nordisk A/S by 20.7% during the 2nd quarter. Guild Investment Management Inc. now owns 36,995 shares of the company’s stock worth $2,553,000 after purchasing an additional 6,345 shares during the period. Finally, Norden Group LLC grew its position in Novo Nordisk A/S by 216.3% during the 2nd quarter. Norden Group LLC now owns 96,332 shares of the company’s stock worth $6,649,000 after purchasing an additional 65,877 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 0.7%

NVO stock opened at $49.11 on Tuesday. 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 has a 12-month low of $45.05 and a 12-month high of $112.52. The stock has a market cap of $219.26 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 2.33 and a beta of 0.68. The business’s 50-day moving average is $56.03 and its 200 day moving average is $61.85.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data 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 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 analysts’ expectations of $77.51 billion. On average, sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Analyst Ratings Changes

A number of research firms have recently commented on NVO. Berenberg Bank upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. Jefferies Financial Group began coverage on Novo Nordisk A/S in a research report on Monday, October 27th. They set an “underperform” rating on the stock. BNP Paribas upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research report on Wednesday, August 13th. Weiss Ratings restated a “hold (c)” rating on shares of Novo Nordisk A/S in a research report on Tuesday, October 14th. Finally, HSBC set a $70.00 target price on Novo Nordisk A/S in a research report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Hold” and a consensus target price of $76.00.

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.