Parcion Private Wealth LLC Purchases New Stake in Novo Nordisk A/S (NYSE:NVO)

Parcion Private Wealth LLC purchased a new stake in Novo Nordisk A/S (NYSE:NVO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,602 shares of the company’s stock, valued at approximately $229,000.

Several other hedge funds have also recently bought and sold shares of the business. Aveo Capital Partners LLC purchased a new stake in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $205,000. 9258 Wealth Management LLC raised its stake in shares of Novo Nordisk A/S by 4.0% during the fourth quarter. 9258 Wealth Management LLC now owns 2,513 shares of the company’s stock valued at $260,000 after purchasing an additional 97 shares during the period. Rollins Financial raised its stake in shares of Novo Nordisk A/S by 10.4% during the fourth quarter. Rollins Financial now owns 3,894 shares of the company’s stock valued at $403,000 after purchasing an additional 368 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Novo Nordisk A/S by 38.1% during the fourth 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. Finally, Gryphon Financial Partners LLC purchased a new stake in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $237,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NVO shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday, August 19th. 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 target for the company. BMO Capital Markets decreased their price target on shares of 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. 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 report on Monday, June 10th. Finally, StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.17.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock traded up $0.25 during mid-day trading on Friday, reaching $131.14. The company’s stock had a trading volume of 2,591,817 shares, compared to its average volume of 4,322,775. The firm has a market cap of $588.49 billion, a price-to-earnings ratio of 45.25, a PEG ratio of 1.52 and a beta of 0.42. The business has a 50 day moving average price of $134.79 and a 200-day moving average price of $132.47. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. 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 released its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 EPS 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 business had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. Sell-side analysts predict that Novo Nordisk A/S will post 3.11 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were issued a dividend of $0.5126 per share. This represents a dividend 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 24.83%.

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.