Park Avenue Securities LLC Makes New $5.93 Million Investment in Novo Nordisk A/S $NVO

Park Avenue Securities LLC bought a new position in Novo Nordisk A/S (NYSE:NVO) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 85,970 shares of the company’s stock, valued at approximately $5,934,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC boosted its holdings in shares of Novo Nordisk A/S by 301,443.6% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock valued at $690,560,000 after purchasing an additional 10,001,898 shares during the last quarter. Folketrygdfondet boosted its holdings in shares of Novo Nordisk A/S by 6.9% in the 1st quarter. Folketrygdfondet now owns 9,521,912 shares of the company’s stock valued at $661,202,000 after purchasing an additional 617,974 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Novo Nordisk A/S by 11.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company’s stock valued at $395,291,000 after purchasing an additional 576,900 shares during the last quarter. Sustainable Growth Advisers LP boosted its holdings in shares of Novo Nordisk A/S by 3.8% in the 1st quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company’s stock valued at $384,923,000 after purchasing an additional 202,443 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Novo Nordisk A/S in the 1st quarter valued at $370,272,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $60.70 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $127.61. The firm has a 50-day simple moving average of $56.71 and a 200 day simple moving average of $64.92. The company has a market cap of $271.03 billion, a PE ratio of 16.68, a P/E/G ratio of 2.33 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. On average, sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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

Analysts Set New Price Targets

Several research firms recently weighed in on NVO. Wall Street Zen lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Dbs Bank upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Friday, August 22nd. BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 target price on the stock in a report on Wednesday, August 13th. HSBC lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $57.00 target price on the stock. in a report on Thursday, July 31st. Finally, Rothschild Redb upgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 16th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Novo Nordisk A/S has an average rating of “Hold” and a consensus target price of $81.00.

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.