O Neil Global Advisors Inc. Makes New $6.63 Million Investment in Novo Nordisk A/S (NYSE:NVO)

O Neil Global Advisors Inc. acquired a new stake in shares of Novo Nordisk A/S (NYSE:NVO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 46,474 shares of the company’s stock, valued at approximately $6,634,000. Novo Nordisk A/S makes up about 3.1% of O Neil Global Advisors Inc.’s holdings, making the stock its 9th largest holding.

A number of other large investors also recently modified their holdings of the company. First PREMIER Bank bought a new stake in Novo Nordisk A/S during the 1st quarter valued at $25,000. 1620 Investment Advisors Inc. bought a new position in shares of Novo Nordisk A/S in the 2nd quarter worth about $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Novo Nordisk A/S in the 1st quarter worth approximately $26,000. Orion Capital Management LLC bought a new position in shares of Novo Nordisk A/S during the 1st quarter valued at $26,000. Finally, Gilliland Jeter Wealth Management LLC grew its position in Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after buying an additional 120 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $137.00 on Friday. The stock has a 50-day moving average of $134.03 and a two-hundred day moving average of $132.87. 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 stock has a market cap of $614.79 billion, a P/E ratio of 47.24, a P/E/G ratio of 1.48 and a beta of 0.42. Novo Nordisk A/S has a one year low of $86.96 and a one year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last posted 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). The business had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. As a group, research analysts predict that Novo Nordisk A/S will post 3.11 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were given a dividend of $0.5126 per share. 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 is currently 24.83%.

Wall Street Analyst Weigh In

Several research firms have recently commented on NVO. Argus raised their price objective 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. BMO Capital Markets dropped their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday, September 9th. The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target on the stock. Finally, StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. One equities 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, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and a consensus 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.