Thoroughbred Financial Services LLC Acquires 21,903 Shares of Novo Nordisk A/S (NYSE:NVO)

Thoroughbred Financial Services LLC lifted its position in shares of Novo Nordisk A/S (NYSE:NVO) by 101.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,425 shares of the company’s stock after acquiring an additional 21,903 shares during the period. Thoroughbred Financial Services LLC’s holdings in Novo Nordisk A/S were worth $6,198,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

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

Novo Nordisk A/S Price Performance

Shares of NVO 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. The company has a 50 day moving average price of $134.03 and a 200-day moving average price of $132.87. Novo Nordisk A/S has a fifty-two week low of $86.96 and a fifty-two week high of $148.15. The stock has a market capitalization of $614.79 billion, a PE ratio of 47.24, a PEG ratio of 1.48 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $9.91 billion. Equities analysts predict 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 announced a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were paid a $0.5126 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.83%.

Novo Nordisk A/S Company 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.