Novo Nordisk A/S (NYSE:NVO) Shares Purchased by Millington Financial Advisors LLC

Millington Financial Advisors LLC raised its position in Novo Nordisk A/S (NYSE:NVO) by 1.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,153 shares of the company’s stock after purchasing an additional 233 shares during the quarter. Novo Nordisk A/S comprises approximately 1.5% of Millington Financial Advisors LLC’s investment portfolio, making the stock its 20th biggest holding. Millington Financial Advisors LLC’s holdings in Novo Nordisk A/S were worth $2,163,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in NVO. Folketrygdfondet increased its position in shares of Novo Nordisk A/S by 1.4% during the 1st quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock valued at $1,124,275,000 after purchasing an additional 124,770 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Novo Nordisk A/S by 10.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after acquiring an additional 823,036 shares during the last quarter. Capital International Investors raised its position in shares of Novo Nordisk A/S by 22.3% during the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after purchasing an additional 1,297,536 shares during the period. GQG Partners LLC lifted its holdings in shares of Novo Nordisk A/S by 654.6% during the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after purchasing an additional 3,151,584 shares during the last quarter. Finally, Natixis Advisors L.P. boosted its position in shares of Novo Nordisk A/S by 1.8% in the 4th quarter. Natixis Advisors L.P. now owns 3,052,406 shares of the company’s stock valued at $315,770,000 after purchasing an additional 55,333 shares during the period. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NVO traded up $1.63 during midday trading on Friday, reaching $139.15. The company’s stock had a trading volume of 2,714,705 shares, compared to its average volume of 4,368,564. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17. The company has a fifty day simple moving average of $135.81 and a 200 day simple moving average of $131.93. The stock has a market cap of $624.44 billion, a P/E ratio of 47.99, a PEG ratio of 1.33 and a beta of 0.41. Novo Nordisk A/S has a twelve month low of $86.96 and a twelve month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. The company had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. Research analysts expect that Novo Nordisk A/S will post 3.38 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were paid a $0.5126 dividend. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s payout ratio is presently 24.83%.

Analysts Set New Price Targets

NVO has been the topic of several recent analyst reports. Argus boosted their price objective 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. 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 research note on Thursday, August 8th. The Goldman Sachs Group started 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 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, August 19th. Finally, StockNews.com lowered 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 assigned a buy rating to the stock. According to MarketBeat, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average price target of $145.17.

Novo Nordisk A/S Company 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.