Envestnet Asset Management Inc. Acquires 58,935 Shares of Novo Nordisk A/S (NYSE:NVO)

Envestnet Asset Management Inc. boosted its holdings in Novo Nordisk A/S (NYSE:NVO) by 1.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,254,180 shares of the company’s stock after purchasing an additional 58,935 shares during the period. Envestnet Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $607,242,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

NVO has been the subject of a number of recent research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, September 9th. Argus raised their price target on shares of 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. BMO Capital Markets dropped 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. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Monday, August 19th. Finally, The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price for the company. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Stock Up 0.2 %

Shares of NYSE NVO opened at $137.00 on Friday. Novo Nordisk A/S has a 12-month low of $86.96 and a 12-month high of $148.15. The firm’s 50-day simple moving average is $134.03 and its 200 day simple moving average is $132.87. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company has a market cap of $614.79 billion, a price-to-earnings ratio of 47.24, a price-to-earnings-growth ratio of 1.48 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last announced 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 during the quarter, compared to the consensus estimate of $9.91 billion. On average, research analysts expect that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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