Parcion Private Wealth LLC Acquires New Holdings in Novo Nordisk A/S (NYSE:NVO)

Parcion Private Wealth LLC acquired a new stake in shares of Novo Nordisk A/S (NYSE:NVO) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,602 shares of the company’s stock, valued at approximately $229,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. First PREMIER Bank bought a new stake in shares of Novo Nordisk A/S during the first quarter valued at about $25,000. 1620 Investment Advisors Inc. bought a new stake in shares of Novo Nordisk A/S during the second quarter valued at about $25,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Novo Nordisk A/S during the first quarter valued at about $26,000. Orion Capital Management LLC bought a new stake in shares of Novo Nordisk A/S during the first quarter valued at about $26,000. Finally, Gilliland Jeter Wealth Management LLC raised its position in Novo Nordisk A/S by 200.0% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after acquiring an additional 120 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Trading Up 0.2 %

NYSE NVO traded up $0.25 on Friday, hitting $131.14. 2,591,817 shares of the company were exchanged, compared to its average volume of 4,322,775. The company’s 50 day moving average price is $134.79 and its 200-day moving average price is $132.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The firm has a market capitalization of $588.49 billion, a P/E ratio of 45.25, a price-to-earnings-growth ratio of 1.52 and a beta of 0.42. Novo Nordisk A/S has a twelve month low of $86.96 and a twelve month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data 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 return on equity of 87.43% and a net margin of 34.86%. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Analysts predict that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were paid a dividend of $0.5126 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.83%.

Analysts Set New Price Targets

Several equities research analysts have commented on NVO shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday, August 19th. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target on the stock. BMO Capital Markets dropped their price target on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Argus boosted their price target on shares of 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. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average target price of $145.17.

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.