Abound Wealth Management Increases Holdings in Novo Nordisk A/S (NYSE:NVO)

Abound Wealth Management raised its stake in Novo Nordisk A/S (NYSE:NVO) by 257.4% during the second quarter, HoldingsChannel reports. The fund owned 218 shares of the company’s stock after buying an additional 157 shares during the period. Abound Wealth Management’s holdings in Novo Nordisk A/S were worth $31,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NVO. Charles Schwab Investment Management Inc. grew its position in Novo Nordisk A/S by 38.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock valued at $9,781,000 after purchasing an additional 26,067 shares during the last quarter. Bank of New Hampshire lifted its stake in shares of Novo Nordisk A/S by 1,356.8% in the first quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock worth $1,702,000 after buying an additional 12,347 shares in the last quarter. Cim LLC bought a new position in shares of Novo Nordisk A/S in the fourth quarter worth approximately $23,547,000. Burford Brothers Inc. bought a new stake in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $1,045,000. Finally, Mark Asset Management LP bought a new stake in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $1,035,000. 11.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on NVO. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, September 9th. BMO Capital Markets dropped their price objective 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. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. Argus upped their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target for the company. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $145.17.

Novo Nordisk A/S Trading Up 0.2 %

Shares of Novo Nordisk A/S stock opened at $137.00 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The stock has a market capitalization of $614.79 billion, a PE ratio of 47.24, a P/E/G ratio of 1.48 and a beta of 0.42. Novo Nordisk A/S has a 1-year low of $86.96 and a 1-year high of $148.15. The company’s fifty day simple moving average is $134.03 and its 200-day simple moving average is $133.02.

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

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were given 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 payout ratio is 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.