Zega Financial LLC Invests $628,000 in Novo Nordisk A/S (NYSE:NVO)

Zega Financial LLC acquired a new stake in shares of Novo Nordisk A/S (NYSE:NVO) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,399 shares of the company’s stock, valued at approximately $628,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Folketrygdfondet grew its position in shares of Novo Nordisk A/S by 1.4% during the 1st quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock worth $1,124,275,000 after buying an additional 124,770 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Novo Nordisk A/S by 10.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after acquiring an additional 823,036 shares during the period. Capital International Investors grew its holdings in Novo Nordisk A/S by 22.3% during the 4th quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after acquiring an additional 1,297,536 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Novo Nordisk A/S by 1.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock valued at $607,242,000 after purchasing an additional 58,935 shares during the period. Finally, GQG Partners LLC raised its holdings in shares of Novo Nordisk A/S by 654.6% in the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after purchasing an additional 3,151,584 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

NVO has been the topic of a number of recent research reports. 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. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. Argus boosted their price target on 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. The Goldman Sachs Group assumed coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective for the company. Finally, BMO Capital Markets cut their target price on 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. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $132.00 on Wednesday. Novo Nordisk A/S has a 12-month low of $86.96 and a 12-month high of $148.15. The business’s fifty day simple moving average is $133.74 and its 200-day simple moving average 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. The company has a market cap of $592.35 billion, a PE ratio of 45.52, a PEG ratio of 1.48 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Analysts expect that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were given 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 payout ratio is currently 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.