Raymond James Trust N.A. Purchases 1,347 Shares of Novo Nordisk A/S (NYSE:NVO)

Raymond James Trust N.A. boosted its position in Novo Nordisk A/S (NYSE:NVOGet Rating) by 5.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,600 shares of the company’s stock after acquiring an additional 1,347 shares during the quarter. Raymond James Trust N.A.’s holdings in Novo Nordisk A/S were worth $2,964,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NVO. Farmers & Merchants Investments Inc. bought a new stake in shares of Novo Nordisk A/S during the first quarter worth $26,000. Cornerstone Advisory LLC bought a new stake in shares of Novo Nordisk A/S during the fourth quarter worth $28,000. Worth Asset Management LLC bought a new stake in shares of Novo Nordisk A/S during the first quarter worth $32,000. Joseph P. Lucia & Associates LLC bought a new stake in shares of Novo Nordisk A/S in the first quarter worth $34,000. Finally, Godsey & Gibb Associates bought a new stake in shares of Novo Nordisk A/S in the fourth quarter worth $37,000. 6.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NVO. JPMorgan Chase & Co. raised shares of Novo Nordisk A/S from a “neutral” rating to an “overweight” rating in a research note on Tuesday, June 7th. Morgan Stanley raised shares of Novo Nordisk A/S from an “equal weight” rating to an “overweight” rating in a research note on Friday, July 15th. UBS Group lowered shares of Novo Nordisk A/S from a “neutral” rating to a “sell” rating in a report on Tuesday, June 28th. Guggenheim upgraded shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, May 31st. Finally, Exane BNP Paribas upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a 750.00 price objective on the stock in a report on Monday, June 27th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $682.43.

Novo Nordisk A/S Price Performance

NVO stock opened at $98.31 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.74 and a current ratio of 0.94. Novo Nordisk A/S has a 52 week low of $91.51 and a 52 week high of $122.16. The firm’s fifty day moving average is $107.60 and its 200 day moving average is $109.28. The firm has a market cap of $222.47 billion, a P/E ratio of 29.35, a P/E/G ratio of 1.77 and a beta of 0.47.

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, August 23rd. Shareholders of record on Monday, August 15th were issued a $0.5836 dividend. This represents a yield of 1.1%. The ex-dividend date of this dividend was Friday, August 12th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.18%.

About Novo Nordisk A/S

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Novo Nordisk A/S, a healthcare company, engages in the research, development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes and Obesity care, and Biopharm. The Diabetes and Obesity care segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral antidiabetic products, obesity, and other chronic diseases.

Further Reading

Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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