Perfromance Wealth Partners LLC Has $1.95 Million Holdings in Novo Nordisk A/S $NVO

Perfromance Wealth Partners LLC cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 12.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,299 shares of the company’s stock after selling 4,112 shares during the period. Perfromance Wealth Partners LLC’s holdings in Novo Nordisk A/S were worth $1,953,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVO. Kingstone Capital Partners Texas LLC raised its holdings in shares of Novo Nordisk A/S by 301,443.6% in the second 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. Nuveen LLC acquired a new stake in shares of Novo Nordisk A/S in the first quarter valued at approximately $370,272,000. Amundi raised its holdings in shares of Novo Nordisk A/S by 49.1% in the first quarter. Amundi now owns 4,938,507 shares of the company’s stock valued at $331,576,000 after purchasing an additional 1,627,051 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Novo Nordisk A/S by 15,919.9% in the first quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock valued at $72,523,000 after purchasing an additional 1,038,137 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Novo Nordisk A/S by 118.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,594,544 shares of the company’s stock valued at $110,725,000 after purchasing an additional 864,579 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Trading Up 1.0%

NVO stock opened at $57.51 on Tuesday. 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 company has a fifty day moving average price of $55.61 and a two-hundred day moving average price of $63.03. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $120.47. The stock has a market cap of $256.76 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 2.58 and a beta of 0.68.

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

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed 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. This represents a yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S’s payout ratio is 22.53%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NVO shares. HSBC set a $70.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, October 1st. Barclays reissued an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Sanford C. Bernstein raised shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 9th. Wall Street Zen cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Zacks Research raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.50.

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.