Resonant Capital Advisors LLC Boosts Stock Position in Novo Nordisk A/S $NVO

Resonant Capital Advisors LLC grew its stake in Novo Nordisk A/S (NYSE:NVO) by 3.4% in the second quarter, Holdings Channel.com reports. The firm owned 8,107 shares of the company’s stock after acquiring an additional 265 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Novo Nordisk A/S were worth $560,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Revolve Wealth Partners LLC grew its holdings in Novo Nordisk A/S by 8.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock valued at $214,000 after buying an additional 200 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Novo Nordisk A/S by 9.6% in the first quarter. GAMMA Investing LLC now owns 9,466 shares of the company’s stock valued at $657,000 after purchasing an additional 827 shares during the period. Diversified Trust Co grew its holdings in shares of Novo Nordisk A/S by 24.6% in the first quarter. Diversified Trust Co now owns 4,044 shares of the company’s stock valued at $281,000 after purchasing an additional 798 shares during the period. Copeland Capital Management LLC grew its holdings in shares of Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock valued at $27,000 after purchasing an additional 255 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Novo Nordisk A/S by 369.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 97,847 shares of the company’s stock valued at $6,657,000 after purchasing an additional 76,994 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Down 0.4%

NVO opened at $53.02 on Monday. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $114.19. The business has a fifty day simple moving average of $56.56 and a 200-day simple moving average of $62.38. The firm has a market cap of $236.74 billion, a P/E ratio of 14.57, a P/E/G ratio of 2.41 and a beta of 0.68. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO) last announced its 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. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The company had revenue of $11.69 billion during the quarter, compared to analysts’ expectations of $77.51 billion. On average, equities analysts expect 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 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 presently 22.53%.

Analyst Ratings Changes

Several research firms have recently weighed in on NVO. Rothschild & Co Redburn raised shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 16th. BNP Paribas Exane upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price objective for the company in a research report on Wednesday, August 13th. Wall Street Zen cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Hsbc Global Res upgraded Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Novo Nordisk A/S in a report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.