Insigneo Advisory Services LLC Boosts Holdings in Novo Nordisk A/S (NYSE:NVO)

Insigneo Advisory Services LLC increased its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,693 shares of the company’s stock after buying an additional 108 shares during the period. Insigneo Advisory Services LLC’s holdings in Novo Nordisk A/S were worth $1,526,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. 1620 Investment Advisors Inc. purchased a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at about $25,000. Gilliland Jeter Wealth Management LLC raised its holdings in 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 valued at $26,000 after acquiring an additional 120 shares in the last quarter. First PREMIER Bank purchased a new position in Novo Nordisk A/S in the first quarter worth approximately $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Novo Nordisk A/S during the 1st quarter worth approximately $26,000. Finally, Orion Capital Management LLC acquired a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at $26,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Trading Up 1.2 %

NVO opened at $126.95 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a 52 week low of $86.96 and a 52 week high of $148.15. The business’s 50 day moving average is $132.47 and its two-hundred day moving average is $133.18. The firm has a market cap of $569.69 billion, a price-to-earnings ratio of 43.78, a price-to-earnings-growth ratio of 1.35 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 EPS 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 business had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. On average, research analysts predict that Novo Nordisk A/S will post 3.11 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Argus boosted their target price 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. BMO Capital Markets lowered 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 report on Thursday, August 8th. The Goldman Sachs Group started coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday, September 16th. Finally, StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $145.17.

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.