RPG Investment Advisory LLC Grows Position in Novo Nordisk A/S $NVO

RPG Investment Advisory LLC increased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 122.7% in the first quarter, Holdings Channel.com reports. The fund owned 185,138 shares of the company’s stock after purchasing an additional 101,994 shares during the period. RPG Investment Advisory LLC’s holdings in Novo Nordisk A/S were worth $12,856,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NVO. Nuveen LLC bought a new position in shares of Novo Nordisk A/S during the 1st quarter valued at approximately $370,272,000. Nuveen Asset Management LLC grew its position in shares of Novo Nordisk A/S by 73.2% during the 4th quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company’s stock worth $537,189,000 after buying an additional 2,639,693 shares in the last quarter. Two Sigma Investments LP bought a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at about $158,657,000. Bank of America Corp DE lifted its holdings in Novo Nordisk A/S by 8.1% during the fourth quarter. Bank of America Corp DE now owns 15,492,384 shares of the company’s stock worth $1,332,655,000 after buying an additional 1,165,955 shares during the period. Finally, Northern Trust Corp boosted its position in Novo Nordisk A/S by 26.8% during the fourth quarter. Northern Trust Corp now owns 4,689,098 shares of the company’s stock valued at $403,356,000 after purchasing an additional 991,022 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $55.4580 on Friday. The firm has a 50 day moving average of $63.03 and a two-hundred day moving average of $69.62. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $139.74. The stock has a market capitalization of $247.62 billion, a PE ratio of 15.24, a P/E/G ratio of 1.89 and a beta of 0.63.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. On average, research analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be issued a $0.4119 dividend. This represents a yield of 240.0%. The ex-dividend date of this dividend is Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio is 22.53%.

Analyst Ratings Changes

NVO has been the subject of a number of recent analyst reports. Hsbc Global Res cut Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Zacks Research lowered Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Barclays restated an “equal weight” rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Dbs Bank downgraded Novo Nordisk A/S to a “sell” rating in a research note on Friday, April 25th. Finally, HSBC lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $57.00 price target on the stock. in a research note on Thursday, July 31st. Three investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $81.00.

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.