Peddock Capital Advisors LLC Purchases 1,280 Shares of Novo Nordisk A/S $NVO

Peddock Capital Advisors LLC raised its position in Novo Nordisk A/S (NYSE:NVO) by 11.2% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 12,695 shares of the company’s stock after acquiring an additional 1,280 shares during the period. Peddock Capital Advisors LLC’s holdings in Novo Nordisk A/S were worth $876,000 as of its most recent filing with the SEC.

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

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO opened at $59.54 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The stock’s fifty day moving average price is $56.56 and its two-hundred day moving average price is $64.88. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $127.61. The firm has a market cap of $265.84 billion, a price-to-earnings ratio of 16.36, a P/E/G ratio of 2.30 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. On average, equities analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on NVO. Dbs Bank upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Friday, August 22nd. BNP Paribas upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 13th. BNP Paribas Exane upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price objective on the stock in a research note on Wednesday, August 13th. Hsbc Global Res cut Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Finally, Wall Street Zen lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Novo Nordisk A/S currently has an average rating of “Hold” and a consensus target price of $81.00.

About Novo Nordisk A/S

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.