Leavell Investment Management Inc. Purchases 978 Shares of Novo Nordisk A/S $NVO

Leavell Investment Management Inc. raised its position in shares of Novo Nordisk A/S (NYSE:NVO) by 18.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,250 shares of the company’s stock after buying an additional 978 shares during the quarter. Leavell Investment Management Inc.’s holdings in Novo Nordisk A/S were worth $431,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVO. Revolve Wealth Partners LLC grew its position in shares of Novo Nordisk A/S by 8.7% in 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 period. GAMMA Investing LLC grew its position in shares of Novo Nordisk A/S by 9.6% in the 1st quarter. GAMMA Investing LLC now owns 9,466 shares of the company’s stock worth $657,000 after buying an additional 827 shares during the period. Diversified Trust Co grew its position in shares of Novo Nordisk A/S by 24.6% in the 1st quarter. Diversified Trust Co now owns 4,044 shares of the company’s stock worth $281,000 after buying an additional 798 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Novo Nordisk A/S by 369.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 97,847 shares of the company’s stock worth $6,657,000 after buying an additional 76,994 shares during the period. Finally, Avidian Wealth Enterprises LLC grew its position in shares of Novo Nordisk A/S by 12.3% in the 1st quarter. Avidian Wealth Enterprises LLC now owns 11,000 shares of the company’s stock worth $764,000 after buying an additional 1,206 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NVO shares. UBS Group downgraded shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 5th. Weiss Ratings restated a “hold (c)” rating on shares of Novo Nordisk A/S in a report on Tuesday, October 14th. TD Cowen reduced their price target on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, August 19th. Barclays restated an “equal weight” rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Finally, Wall Street Zen downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $76.00.

Novo Nordisk A/S Trading Down 0.1%

Novo Nordisk A/S stock opened at $52.92 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $113.76. The stock has a market capitalization of $236.27 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 2.41 and a beta of 0.68. The business’s fifty day moving average is $56.55 and its 200 day moving average is $62.29.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. The business had revenue of $11.69 billion for 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%. On average, sell-side analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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

Novo Nordisk A/S 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.