Novo Nordisk A/S (NYSE:NVO) Shares Purchased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC grew its position in Novo Nordisk A/S (NYSE:NVO) by 16.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,715 shares of the company’s stock after acquiring an additional 3,834 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $3,956,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. 1620 Investment Advisors Inc. bought a new position in Novo Nordisk A/S in the second quarter worth about $25,000. Gilliland Jeter Wealth Management LLC raised its position 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 period. First PREMIER Bank bought a new stake in shares of Novo Nordisk A/S in the 1st quarter worth approximately $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Novo Nordisk A/S during the 1st quarter valued at approximately $26,000. Finally, Orion Capital Management LLC bought a new position in Novo Nordisk A/S during the 1st quarter worth $26,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Down 3.6 %

Novo Nordisk A/S stock opened at $132.00 on Wednesday. Novo Nordisk A/S has a 52 week low of $86.96 and a 52 week high of $148.15. The stock has a market cap of $592.35 billion, a price-to-earnings ratio of 45.52, a PEG ratio of 1.48 and a beta of 0.42. The company’s 50-day moving average price is $133.74 and its two-hundred day moving average price is $133.20. 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 (NYSE:NVO) last posted 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 net margin of 34.86% and a return on equity of 87.43%. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. On average, analysts expect 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 disclosed a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were paid a $0.5126 dividend. 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 is presently 24.83%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NVO shares. Argus raised their target price on 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price for the company. BMO Capital Markets dropped their price target on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, StockNews.com downgraded 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and a consensus price target 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.