Nicholas Hoffman & Company LLC. Purchases New Position in Novo Nordisk A/S (NYSE:NVO)

Nicholas Hoffman & Company LLC. acquired a new position in Novo Nordisk A/S (NYSE:NVO) in the 2nd quarter, Holdings Channel reports. The firm acquired 3,472 shares of the company’s stock, valued at approximately $496,000.

Other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Novo Nordisk A/S by 38.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock worth $9,781,000 after acquiring an additional 26,067 shares in the last quarter. McKinley Carter Wealth Services Inc. lifted its holdings in shares of Novo Nordisk A/S by 37.0% during the fourth quarter. McKinley Carter Wealth Services Inc. now owns 60,356 shares of the company’s stock valued at $6,244,000 after purchasing an additional 16,293 shares during the last quarter. Bank of New Hampshire boosted its position in shares of Novo Nordisk A/S by 1,356.8% in the 1st quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock worth $1,702,000 after purchasing an additional 12,347 shares in the last quarter. Cim LLC purchased a new stake in shares of Novo Nordisk A/S in the 4th quarter worth approximately $23,547,000. Finally, Burford Brothers Inc. bought a new position in Novo Nordisk A/S during the 4th quarter valued at approximately $1,045,000. 11.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on NVO. Argus boosted their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday, August 19th. The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price for the company. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 19th. Finally, BMO Capital Markets decreased their price objective on shares of 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. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to 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 Stock Performance

Shares of NYSE NVO opened at $130.87 on Friday. The firm’s 50-day moving average price is $135.03 and its 200-day moving average price is $132.42. Novo Nordisk A/S has a 52-week low of $86.96 and a 52-week high of $148.15. The company has a market cap of $587.28 billion, a PE ratio of 45.13, a PEG ratio of 1.52 and a beta of 0.42. 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 (NYSE:NVO) last issued its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (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 analysts’ expectations 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, analysts anticipate that Novo Nordisk A/S will post 3.11 EPS 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. Investors of record on Friday, August 16th were given a dividend of $0.5126 per share. This represents a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 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.