Novo Nordisk A/S $NVO Shares Purchased by Sound Income Strategies LLC

Sound Income Strategies LLC lifted its holdings in Novo Nordisk A/S (NYSE:NVO) by 194.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,692 shares of the company’s stock after purchasing an additional 1,778 shares during the period. Sound Income Strategies LLC’s holdings in Novo Nordisk A/S were worth $186,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in NVO. Copeland Capital Management LLC lifted its stake in Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock worth $27,000 after acquiring an additional 255 shares during the last quarter. North Capital Inc. purchased a new position in Novo Nordisk A/S in the first quarter worth approximately $27,000. Stone House Investment Management LLC purchased a new position in Novo Nordisk A/S in the first quarter worth approximately $30,000. Disciplina Capital Management LLC lifted its stake in Novo Nordisk A/S by 162.3% in the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock worth $33,000 after acquiring an additional 297 shares during the last quarter. Finally, Spirit of America Management Corp NY purchased a new position in Novo Nordisk A/S in the first quarter worth approximately $35,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Up 0.0%

NVO stock opened at $55.52 on Wednesday. The company has a fifty day moving average price of $55.62 and a 200 day moving average price of $64.17. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $120.56. The company has a market cap of $247.90 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 2.10 and a beta of 0.66. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. Sell-side 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 declared a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were given a $0.4119 dividend. The ex-dividend date was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio is 22.53%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Barclays reiterated an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Zacks Research downgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 20th. Wall Street Zen downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. HSBC downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $57.00 price objective for the company. in a research report on Thursday, July 31st. Finally, Berenberg Bank upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $75.33.

Novo Nordisk A/S 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.