Axxcess Wealth Management LLC Buys 780 Shares of Novo Nordisk A/S $NVO

Axxcess Wealth Management LLC boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 2.7% in the second quarter, Holdings Channel reports. The institutional investor owned 29,840 shares of the company’s stock after purchasing an additional 780 shares during the period. Axxcess Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $2,060,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVO. Kingstone Capital Partners Texas LLC increased its position in 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 valued at $690,560,000 after buying an additional 10,001,898 shares in the last quarter. Nuveen LLC bought a new position in Novo Nordisk A/S during the 1st quarter valued at approximately $370,272,000. Amundi increased its holdings in shares of Novo Nordisk A/S by 49.1% in the 1st quarter. Amundi now owns 4,938,507 shares of the company’s stock worth $331,576,000 after purchasing an additional 1,627,051 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Novo Nordisk A/S by 15,919.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock worth $72,523,000 after purchasing an additional 1,038,137 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Novo Nordisk A/S by 118.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,594,544 shares of the company’s stock worth $110,725,000 after purchasing an additional 864,579 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on NVO shares. Berenberg Bank raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Wednesday, September 17th. UBS Group lowered Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a report on Tuesday, August 5th. HSBC set a $70.00 target price on Novo Nordisk A/S in a report on Wednesday, October 1st. Wall Street Zen lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, TD Cowen reduced their target price on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Novo Nordisk A/S has an average rating of “Moderate Buy” and an average price target of $76.00.

Novo Nordisk A/S Stock Performance

NVO stock opened at $56.72 on Thursday. The company has a market cap of $253.23 billion, a P/E ratio of 15.58, a price-to-earnings-growth ratio of 2.60 and a beta of 0.68. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $119.07. 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 $56.03 and its 200-day moving average price is $62.94.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The firm had revenue of $11.69 billion for the quarter, compared to the consensus estimate 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, equities analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

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

Novo Nordisk A/S Company 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.