Sofinnova Investments Inc. Boosts Holdings in Novo Nordisk A/S (NYSE:NVO)

Sofinnova Investments Inc. boosted its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 6.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 649,541 shares of the company’s stock after purchasing an additional 37,657 shares during the period. Novo Nordisk A/S accounts for approximately 4.8% of Sofinnova Investments Inc.’s holdings, making the stock its 4th largest holding. Sofinnova Investments Inc.’s holdings in Novo Nordisk A/S were worth $92,715,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Aveo Capital Partners LLC acquired a new position in Novo Nordisk A/S during the 4th quarter worth about $205,000. 9258 Wealth Management LLC boosted its position in Novo Nordisk A/S by 4.0% in the 4th quarter. 9258 Wealth Management LLC now owns 2,513 shares of the company’s stock valued at $260,000 after buying an additional 97 shares during the last quarter. Rollins Financial increased its stake in shares of Novo Nordisk A/S by 10.4% in the 4th quarter. Rollins Financial now owns 3,894 shares of the company’s stock valued at $403,000 after buying an additional 368 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Novo Nordisk A/S by 38.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock valued at $9,781,000 after buying an additional 26,067 shares during the period. Finally, Gryphon Financial Partners LLC acquired a new position in shares of Novo Nordisk A/S during the fourth quarter valued at $237,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NVO. 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. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. Argus increased 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 report on Monday, June 10th. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price for the company. Finally, BMO Capital Markets reduced their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Trading Down 0.1 %

Shares of NYSE NVO opened at $136.90 on Tuesday. Novo Nordisk A/S has a twelve month low of $86.96 and a twelve month high of $148.15. The stock has a market cap of $614.34 billion, a price-to-earnings ratio of 47.21, a P/E/G ratio of 1.48 and a beta of 0.42. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company’s fifty day moving average is $133.90 and its 200-day moving average is $133.14.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results 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). 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 for the quarter, compared to the consensus estimate of $9.91 billion. Equities research analysts predict that Novo Nordisk A/S will post 3.11 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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