Novo Nordisk A/S (NYSE:NVO) Stock Holdings Increased by iA Global Asset Management Inc.

iA Global Asset Management Inc. raised its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 17.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,831 shares of the company’s stock after buying an additional 3,408 shares during the period. iA Global Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $3,259,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. First PREMIER Bank acquired a new position in shares of Novo Nordisk A/S in the 1st quarter worth $25,000. 1620 Investment Advisors Inc. purchased a new position in Novo Nordisk A/S in the 2nd quarter worth about $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Novo Nordisk A/S during the 1st quarter worth about $26,000. Orion Capital Management LLC purchased a new stake in Novo Nordisk A/S during the first quarter valued at about $26,000. Finally, Gilliland Jeter Wealth Management LLC boosted its holdings in shares of Novo Nordisk A/S by 200.0% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after buying an additional 120 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on NVO. Argus raised their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. The Goldman Sachs Group assumed coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price for the company. BMO Capital Markets reduced their price objective on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday, August 19th. Finally, StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Monday, August 19th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and an average target price of $145.17.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $139.16 on Friday. Novo Nordisk A/S has a fifty-two week low of $86.96 and a fifty-two week high of $148.15. The stock’s 50-day moving average is $135.76 and its two-hundred day moving average is $132.06. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. The firm has a market cap of $624.48 billion, a P/E ratio of 47.99, a PEG ratio of 1.33 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. Analysts predict that Novo Nordisk A/S will post 3.38 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were issued a dividend of $0.5126 per share. 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 is currently 24.83%.

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.