Novo Nordisk A/S $NVO Shares Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 35.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 59,441 shares of the company’s stock after buying an additional 15,585 shares during the period. Concurrent Investment Advisors LLC’s holdings in Novo Nordisk A/S were worth $4,103,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of NVO. Revolve Wealth Partners LLC raised its holdings in Novo Nordisk A/S by 8.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock worth $214,000 after buying an additional 200 shares during the period. GAMMA Investing LLC raised its holdings in Novo Nordisk A/S by 9.6% during the 1st quarter. GAMMA Investing LLC now owns 9,466 shares of the company’s stock worth $657,000 after buying an additional 827 shares during the period. CX Institutional acquired a new stake in Novo Nordisk A/S during the 1st quarter worth about $36,000. Sound Income Strategies LLC raised its holdings in Novo Nordisk A/S by 69.6% during the 1st quarter. Sound Income Strategies LLC now owns 914 shares of the company’s stock worth $63,000 after buying an additional 375 shares during the period. Finally, North Star Investment Management Corp. raised its holdings in Novo Nordisk A/S by 18.2% during the 1st quarter. North Star Investment Management Corp. now owns 20,742 shares of the company’s stock worth $1,440,000 after buying an additional 3,200 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

NVO has been the topic of several recent analyst reports. HSBC set a $70.00 price objective on Novo Nordisk A/S in a report on Wednesday, October 1st. Morgan Stanley downgraded Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and dropped their target price for the company from $59.00 to $47.00 in a report on Monday, September 29th. TD Cowen dropped their target price on 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. Barclays reiterated an “equal weight” rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Finally, Wall Street Zen downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.50.

Novo Nordisk A/S Trading Up 1.0%

Shares of NYSE NVO opened at $57.51 on Tuesday. The stock has a market cap of $256.76 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 2.58 and a beta of 0.68. The business has a 50 day simple moving average of $55.61 and a 200 day simple moving average of $63.03. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $120.47. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. The business had revenue of $11.69 billion during the quarter, compared to analysts’ expectations of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. On average, research analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

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.