Oppenheimer Asset Management Inc. Boosts Stock Position in Novo Nordisk A/S (NYSE:NVO)

Oppenheimer Asset Management Inc. grew its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 13.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 389,476 shares of the company’s stock after purchasing an additional 44,981 shares during the period. Novo Nordisk A/S makes up about 0.7% of Oppenheimer Asset Management Inc.’s holdings, making the stock its 20th biggest position. Oppenheimer Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $55,594,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Advisor OS LLC increased its position in Novo Nordisk A/S by 0.6% during the 2nd quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock worth $1,994,000 after purchasing an additional 82 shares during the period. Cascade Financial Partners LLC grew its holdings in shares of Novo Nordisk A/S by 2.3% in the 2nd quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock worth $543,000 after acquiring an additional 84 shares during the period. Cravens & Co Advisors LLC grew its holdings in shares of Novo Nordisk A/S by 1.0% in the 1st quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock worth $1,059,000 after acquiring an additional 85 shares during the period. AA Financial Advisors LLC grew its holdings in shares of Novo Nordisk A/S by 3.2% in the 2nd quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock worth $400,000 after acquiring an additional 86 shares during the period. Finally, Sage Rhino Capital LLC grew its holdings in shares of Novo Nordisk A/S by 0.7% in the 1st quarter. Sage Rhino Capital LLC now owns 12,320 shares of the company’s stock worth $1,582,000 after acquiring an additional 89 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $137.00 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. Novo Nordisk A/S has a one year low of $86.96 and a one year high of $148.15. The company’s 50-day simple moving average is $134.03 and its 200-day simple moving average is $132.87. The stock has a market capitalization of $614.79 billion, a price-to-earnings ratio of 47.24, a PEG ratio of 1.48 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last issued 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 return on equity of 87.43% and a net margin of 34.86%. The company had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. Equities analysts anticipate that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared 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 was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s payout ratio is 24.83%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NVO. BMO Capital Markets lowered their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Argus increased their price target on 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. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. The Goldman Sachs Group began coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target for the company. Finally, Cantor Fitzgerald restated 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. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $145.17.

About Novo Nordisk A/S

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.