Impact Investors Inc Buys 3,629 Shares of Novo Nordisk A/S $NVO

Impact Investors Inc grew its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 63.7% in the second quarter, HoldingsChannel.com reports. The fund owned 9,327 shares of the company’s stock after acquiring an additional 3,629 shares during the quarter. Impact Investors Inc’s holdings in Novo Nordisk A/S were worth $644,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of NVO. Revolve Wealth Partners LLC lifted its position in shares of Novo Nordisk A/S by 8.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock worth $214,000 after buying an additional 200 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Novo Nordisk A/S by 10.2% during the 1st quarter. Rhumbline Advisers now owns 63,539 shares of the company’s stock worth $4,412,000 after buying an additional 5,898 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Novo Nordisk A/S by 1.5% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 20,032 shares of the company’s stock worth $1,391,000 after buying an additional 290 shares during the last quarter. Beacon Financial Group lifted its position in shares of Novo Nordisk A/S by 6.5% during the 1st quarter. Beacon Financial Group now owns 2,884 shares of the company’s stock worth $200,000 after buying an additional 177 shares during the last quarter. Finally, Naples Global Advisors LLC bought a new stake in shares of Novo Nordisk A/S during the 1st quarter worth $829,000. 11.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NVO. Morgan Stanley downgraded Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and dropped their price objective for the stock from $59.00 to $47.00 in a research report on Monday. TD Cowen dropped their price objective on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, August 19th. Weiss Ratings restated a “hold (c-)” rating on shares of Novo Nordisk A/S in a research report on Saturday, September 27th. HSBC set a $70.00 price objective on Novo Nordisk A/S in a research report on Wednesday. Finally, Berenberg Bank raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Wednesday, September 17th. Two 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 assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.50.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $59.68 on Friday. Novo Nordisk A/S has a 12-month low of $45.05 and a 12-month high of $120.56. The business has a 50-day simple moving average of $54.92 and a two-hundred day simple moving average of $63.84. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The stock has a market cap of $266.45 billion, a PE ratio of 16.39, a PEG ratio of 2.25 and a beta of 0.68.

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

Novo Nordisk A/S Cuts Dividend

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

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.