Sagespring Wealth Partners LLC Acquires 1,140 Shares of Novo Nordisk A/S $NVO

Sagespring Wealth Partners LLC lifted its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 6.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,176 shares of the company’s stock after acquiring an additional 1,140 shares during the period. Sagespring Wealth Partners LLC’s holdings in Novo Nordisk A/S were worth $1,324,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. First Hawaiian Bank grew its position in Novo Nordisk A/S by 0.6% in the 1st quarter. First Hawaiian Bank now owns 22,401 shares of the company’s stock worth $1,556,000 after purchasing an additional 142 shares in the last quarter. Anchor Investment Management LLC grew its position in Novo Nordisk A/S by 1.1% in the 1st quarter. Anchor Investment Management LLC now owns 13,597 shares of the company’s stock worth $944,000 after purchasing an additional 150 shares in the last quarter. Xponance Inc. grew its position in Novo Nordisk A/S by 5.0% in the 1st quarter. Xponance Inc. now owns 3,314 shares of the company’s stock worth $230,000 after purchasing an additional 158 shares in the last quarter. Foster Dykema Cabot & Partners LLC grew its position in Novo Nordisk A/S by 3.8% in the 1st quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company’s stock worth $319,000 after purchasing an additional 166 shares in the last quarter. Finally, PFG Investments LLC grew its position in Novo Nordisk A/S by 1.0% in the 1st quarter. PFG Investments LLC now owns 18,102 shares of the company’s stock worth $1,257,000 after purchasing an additional 178 shares in the last quarter. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $56.67 on Wednesday. The stock has a market capitalization of $253.03 billion, a P/E ratio of 15.57, a PEG ratio of 2.60 and a beta of 0.68. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The firm’s 50 day moving average is $55.80 and its 200 day moving average is $62.98. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $119.09.

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 analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $11.69 billion for the quarter, compared to analysts’ expectations of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. On average, sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 9th. BMO Capital Markets reiterated a “market perform” rating and issued a $55.00 target price (up from $50.00) on shares of Novo Nordisk A/S in a research note on Tuesday. Hsbc Global Res upgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. 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 research note on Wednesday, August 13th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and an average price target of $76.00.

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.