Dynamic Advisor Solutions LLC Buys 4,927 Shares of Novo Nordisk A/S (NYSE:NVO)

Dynamic Advisor Solutions LLC boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 21.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,049 shares of the company’s stock after acquiring an additional 4,927 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Novo Nordisk A/S were worth $4,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of NVO. First PREMIER Bank bought a new position in shares of Novo Nordisk A/S in the first quarter worth approximately $25,000. CNB Bank purchased a new position in shares of Novo Nordisk A/S in the fourth quarter valued at about $26,000. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Novo Nordisk A/S during the first quarter valued at about $26,000. Orion Capital Management LLC purchased a new stake in shares of Novo Nordisk A/S during the first quarter worth about $26,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in shares of Novo Nordisk A/S during the fourth quarter worth about $30,000. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Trading Up 1.6 %

NYSE NVO opened at $132.03 on Tuesday. The firm has a market capitalization of $592.49 billion, a PE ratio of 44.79, a P/E/G ratio of 1.33 and a beta of 0.41. The stock’s 50 day moving average is $137.42 and its 200 day moving average is $130.28. Novo Nordisk A/S has a twelve month low of $86.96 and a twelve month high of $148.15. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.5126 per share. This represents a dividend yield of 0.7%. The ex-dividend date is Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 25.52%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday, August 5th. BMO Capital Markets decreased their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. The Goldman Sachs Group initiated coverage on 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. Finally, 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. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Novo Nordisk A/S presently has a consensus 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.