Raymond James Trust N.A. boosted its position in Novo Nordisk A/S (NYSE:NVO – Get 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
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
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.
- Get a free copy of the StockNews.com research report on Novo Nordisk A/S (NVO)
- The Institutions Hold On To Darden Restaurants International
- What Steelcase’s Earnings Say About the Return to the Office?
- Is The Golden Age Of Homebuilding Already Over?
- These 3 Big Dividend Payers Also Boast Strong Price Growth
- Natural Gas Prices Continue To Rally, These Stocks Should Benefit
Receive News & Ratings for Novo Nordisk A/S Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novo Nordisk A/S and related companies with MarketBeat.com's FREE daily email newsletter.