TrueMark Investments LLC Boosts Stock Holdings in Novo Nordisk A/S $NVO

TrueMark Investments LLC raised its holdings in Novo Nordisk A/S (NYSE:NVO) by 219.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 36,151 shares of the company’s stock after acquiring an additional 24,839 shares during the period. TrueMark Investments LLC’s holdings in Novo Nordisk A/S were worth $2,495,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Revolve Wealth Partners LLC grew its stake in Novo Nordisk A/S by 8.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock valued at $214,000 after acquiring an additional 200 shares in the last quarter. GAMMA Investing LLC grew its stake in Novo Nordisk A/S by 9.6% during the first quarter. GAMMA Investing LLC now owns 9,466 shares of the company’s stock valued at $657,000 after acquiring an additional 827 shares in the last quarter. Spirit of America Management Corp NY purchased a new position in Novo Nordisk A/S during the first quarter valued at approximately $35,000. PFG Investments LLC grew its stake in Novo Nordisk A/S by 1.0% during the first quarter. PFG Investments LLC now owns 18,102 shares of the company’s stock valued at $1,257,000 after acquiring an additional 178 shares in the last quarter. Finally, Cabot Wealth Management Inc. grew its stake in Novo Nordisk A/S by 7.9% during the first quarter. Cabot Wealth Management Inc. now owns 130,729 shares of the company’s stock valued at $9,078,000 after acquiring an additional 9,534 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 3.0%

Shares of NVO opened at $54.41 on Friday. The firm has a market cap of $242.93 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 2.50 and a beta of 0.68. 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 has a fifty-two week low of $45.05 and a fifty-two week high of $118.26. The firm has a 50 day moving average price of $56.24 and a 200-day moving average price of $62.72.

Novo Nordisk A/S (NYSE:NVO) last posted 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. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The company had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. As a group, equities research 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. Investors of record on Monday, August 18th were issued a dividend of $0.4119 per share. This represents a yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio is currently 22.53%.

Wall Street Analyst Weigh In

Several brokerages recently commented on NVO. 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. UBS Group cut shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 5th. 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. BNP Paribas upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research report on Wednesday, August 13th. Finally, Barclays reiterated an “equal weight” rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $76.00.

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.