Principal Securities Inc. Acquires 708 Shares of Novo Nordisk A/S (NYSE:NVO)

Principal Securities Inc. raised its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 1.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,787 shares of the company’s stock after purchasing an additional 708 shares during the quarter. Principal Securities Inc.’s holdings in Novo Nordisk A/S were worth $4,976,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NVO. Allspring Global Investments Holdings LLC increased its stake in Novo Nordisk A/S by 12.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 313,291 shares of the company’s stock valued at $40,227,000 after purchasing an additional 33,463 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Novo Nordisk A/S by 29.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 244,301 shares of the company’s stock worth $31,368,000 after acquiring an additional 56,060 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Novo Nordisk A/S by 8.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 331,751 shares of the company’s stock worth $42,597,000 after acquiring an additional 26,573 shares in the last quarter. Resonant Capital Advisors LLC grew its stake in shares of Novo Nordisk A/S by 89.7% in the 1st quarter. Resonant Capital Advisors LLC now owns 5,905 shares of the company’s stock worth $764,000 after acquiring an additional 2,793 shares in the last quarter. Finally, Choreo LLC grew its stake in shares of Novo Nordisk A/S by 16.7% in the 1st quarter. Choreo LLC now owns 3,627 shares of the company’s stock worth $466,000 after acquiring an additional 519 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday. BMO Capital Markets reduced their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Price Performance

NVO opened at $111.96 on Friday. The firm has a market cap of $502.42 billion, a P/E ratio of 38.34, a PEG ratio of 1.48 and a beta of 0.42. The firm has a 50-day moving average of $124.25 and a 200 day moving average of $130.85. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. Novo Nordisk A/S has a fifty-two week low of $94.73 and a fifty-two week 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 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.06). The company had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. On average, research analysts expect that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were issued a dividend of $0.5126 per share. This represents a yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.66%.

About Novo Nordisk A/S

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.