Opes Wealth Management LLC Increases Stake in Novo Nordisk A/S (NYSE:NVO)

Opes Wealth Management LLC grew its stake in Novo Nordisk A/S (NYSE:NVO) by 12.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,865 shares of the company’s stock after buying an additional 202 shares during the quarter. Opes Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $266,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NVO. Folketrygdfondet raised its position in shares of Novo Nordisk A/S by 1.4% during the 1st quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock worth $1,124,275,000 after acquiring an additional 124,770 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Novo Nordisk A/S by 10.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after acquiring an additional 823,036 shares in the last quarter. Capital International Investors raised its position in shares of Novo Nordisk A/S by 22.3% during the 4th quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after acquiring an additional 1,297,536 shares in the last quarter. GQG Partners LLC raised its position in shares of Novo Nordisk A/S by 654.6% during the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after acquiring an additional 3,151,584 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its position in shares of Novo Nordisk A/S by 7.8% during the 1st quarter. 1832 Asset Management L.P. now owns 2,373,029 shares of the company’s stock worth $304,697,000 after acquiring an additional 172,003 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Up 0.3 %

Shares of NVO stock opened at $131.23 on Friday. The business’s 50 day moving average is $134.79 and its two-hundred day moving average is $132.47. Novo Nordisk A/S has a twelve month low of $86.96 and a twelve month high of $148.15. The company has a market capitalization of $588.90 billion, a P/E ratio of 45.25, a price-to-earnings-growth ratio of 1.52 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. Equities analysts forecast that Novo Nordisk A/S will post 3.11 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were paid a $0.5126 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.83%.

Analyst Ratings Changes

Several brokerages have recently weighed in on NVO. Argus raised their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. BMO Capital Markets cut their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday, August 19th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $145.17.

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.