Choreo LLC Buys 41,111 Shares of Novo Nordisk A/S (NYSE:NVO)

Choreo LLC lifted its position in Novo Nordisk A/S (NYSE:NVO) by 1,133.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,738 shares of the company’s stock after acquiring an additional 41,111 shares during the quarter. Choreo LLC’s holdings in Novo Nordisk A/S were worth $6,495,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. First PREMIER Bank purchased a new position in shares of Novo Nordisk A/S in the 1st quarter worth approximately $25,000. 1620 Investment Advisors Inc. bought a new stake in Novo Nordisk A/S in the second quarter worth about $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Novo Nordisk A/S in the first quarter valued at about $26,000. Orion Capital Management LLC bought a new position in shares of Novo Nordisk A/S during the 1st quarter valued at approximately $26,000. Finally, Gilliland Jeter Wealth Management LLC increased its stake in shares of Novo Nordisk A/S by 200.0% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after purchasing an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $131.93 on Tuesday. The company’s fifty day moving average price is $134.52 and its 200-day moving average price is $132.68. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The firm has a market capitalization of $592.04 billion, a price-to-earnings ratio of 45.49, a PEG ratio of 1.43 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 released its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. On average, equities research analysts anticipate that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal 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 payout ratio is 24.83%.

Analyst Upgrades and Downgrades

NVO has been the subject of a number of recent analyst reports. BMO Capital Markets reduced their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Argus boosted their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 19th. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday. Finally, The Goldman Sachs Group began coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and a consensus target price of $145.17.

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.