Koshinski Asset Management Inc. Buys 1,148 Shares of Novo Nordisk A/S $NVO

Koshinski Asset Management Inc. grew its stake in Novo Nordisk A/S (NYSE:NVO) by 7.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,718 shares of the company’s stock after acquiring an additional 1,148 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $1,154,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of NVO. First Hawaiian Bank grew its position in Novo Nordisk A/S by 0.6% during the 1st quarter. First Hawaiian Bank now owns 22,401 shares of the company’s stock valued at $1,556,000 after purchasing an additional 142 shares during the last quarter. Anchor Investment Management LLC grew its holdings in shares of Novo Nordisk A/S by 1.1% during the first quarter. Anchor Investment Management LLC now owns 13,597 shares of the company’s stock valued at $944,000 after buying an additional 150 shares during the last quarter. Xponance Inc. increased its position in shares of Novo Nordisk A/S by 5.0% during the first quarter. Xponance Inc. now owns 3,314 shares of the company’s stock valued at $230,000 after acquiring an additional 158 shares in the last quarter. Foster Dykema Cabot & Partners LLC raised its holdings 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 acquiring an additional 166 shares during the last quarter. Finally, Werba Rubin Papier Wealth Management lifted its position in Novo Nordisk A/S by 4.1% in the 2nd quarter. Werba Rubin Papier Wealth Management now owns 4,378 shares of the company’s stock valued at $302,000 after acquiring an additional 173 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Trading Down 3.0%

Shares of NYSE:NVO opened at $54.41 on Friday. The stock’s 50-day simple moving average is $56.24 and its two-hundred day simple moving average is $62.72. The stock has a market capitalization of $242.93 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 2.50 and a beta of 0.68. Novo Nordisk A/S has a 52-week low of $45.05 and a 52-week high of $118.26. 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 issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $77.51 billion. Analysts expect 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. Stockholders of record on Monday, August 18th were paid a $0.4119 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio (DPR) is 22.53%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NVO. BNP Paribas upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 13th. Wall Street Zen downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Dbs Bank upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Friday, August 22nd. Berenberg Bank upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Wednesday, September 17th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $55.00 price objective (up from $50.00) on shares of Novo Nordisk A/S in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $76.00.

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.