Abbot Financial Management Inc. Buys Shares of 3,609 Novo Nordisk A/S (NYSE:NVO)

Abbot Financial Management Inc. purchased a new stake in Novo Nordisk A/S (NYSE:NVO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,609 shares of the company’s stock, valued at approximately $515,000.

Other hedge funds also recently modified their holdings of the company. Sofinnova Investments Inc. boosted its stake in shares of Novo Nordisk A/S by 6.2% during the second quarter. Sofinnova Investments Inc. now owns 649,541 shares of the company’s stock valued at $92,715,000 after purchasing an additional 37,657 shares in the last quarter. Virtu Financial LLC acquired a new stake in Novo Nordisk A/S during the 2nd quarter worth approximately $2,852,000. Alpha Financial Partners LLC boosted its position in Novo Nordisk A/S by 8.1% during the 2nd quarter. Alpha Financial Partners LLC now owns 1,739 shares of the company’s stock worth $248,000 after buying an additional 130 shares during the period. Pekin Hardy Strauss Inc. grew its holdings in Novo Nordisk A/S by 20.1% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 7,165 shares of the company’s stock worth $1,023,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Citizens Financial Group Inc. RI increased its position in Novo Nordisk A/S by 1.0% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 14,038 shares of the company’s stock valued at $2,004,000 after acquiring an additional 134 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NVO. Argus boosted their price objective 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 decreased 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 note on Thursday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday. 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. 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 investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $145.17.

Novo Nordisk A/S Trading Down 0.1 %

Shares of NVO stock opened at $136.90 on Tuesday. Novo Nordisk A/S has a fifty-two week low of $86.96 and a fifty-two week high of $148.15. 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 50 day simple moving average of $133.90 and a two-hundred day simple moving average of $133.14. The company has a market cap of $614.34 billion, a P/E ratio of 47.21, a PEG ratio of 1.48 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data 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 during 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%. Research analysts forecast that Novo Nordisk A/S will post 3.11 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Stockholders 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 dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 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.