Agate Pass Investment Management LLC Purchases 650 Shares of Novo Nordisk A/S $NVO

Agate Pass Investment Management LLC lifted its position in shares of Novo Nordisk A/S (NYSE:NVO) by 8.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,269 shares of the company’s stock after purchasing an additional 650 shares during the quarter. Agate Pass Investment Management LLC’s holdings in Novo Nordisk A/S were worth $571,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in NVO. Copeland Capital Management LLC boosted its position in shares of Novo Nordisk A/S by 184.8% during the first quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock valued at $27,000 after purchasing an additional 255 shares in the last quarter. North Capital Inc. bought a new stake in Novo Nordisk A/S in the first quarter worth $27,000. Stone House Investment Management LLC bought a new stake in Novo Nordisk A/S in the first quarter worth $30,000. Disciplina Capital Management LLC boosted its holdings in Novo Nordisk A/S by 162.3% in the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock worth $33,000 after acquiring an additional 297 shares in the last quarter. Finally, Spirit of America Management Corp NY bought a new stake in Novo Nordisk A/S in the first quarter worth $35,000. 11.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NVO has been the topic of several analyst reports. HSBC set a $70.00 target price on Novo Nordisk A/S in a report on Wednesday, October 1st. Rothschild & Co Redburn raised Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, September 16th. UBS Group downgraded Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a report on Tuesday, August 5th. BNP Paribas Exane raised Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 target price on the stock in a report on Wednesday, August 13th. Finally, Dbs Bank upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Friday, August 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and an average price target of $77.50.

Novo Nordisk A/S Stock Down 3.0%

NVO stock opened at $56.95 on Friday. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $120.56. The business has a fifty day moving average price of $55.44 and a 200-day moving average price of $63.22. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The stock has a market capitalization of $254.27 billion, a P/E ratio of 15.64, a P/E/G ratio of 2.65 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The firm had revenue of $11.69 billion during the quarter, compared to analysts’ expectations of $77.51 billion. Equities analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were given a dividend of $0.4119 per share. This represents a yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio is 22.53%.

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.