First PREMIER Bank Raises Position in Novo Nordisk A/S (NYSE:NVO)

First PREMIER Bank boosted its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 51.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 294 shares of the company’s stock after buying an additional 100 shares during the period. First PREMIER Bank’s holdings in Novo Nordisk A/S were worth $42,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NVO. Dixon Mitchell Investment Counsel Inc. acquired a new position in Novo Nordisk A/S in the 1st quarter worth approximately $26,000. Orion Capital Management LLC purchased a new stake in Novo Nordisk A/S in the first quarter valued at $26,000. Halpern Financial Inc. boosted its holdings in Novo Nordisk A/S by 113.0% in the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after purchasing an additional 113 shares during the last quarter. Riverview Trust Co acquired a new stake in Novo Nordisk A/S during the 2nd quarter worth about $35,000. Finally, CNB Bank purchased a new position in shares of Novo Nordisk A/S during the 4th quarter valued at about $26,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NVO. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, August 5th. The Goldman Sachs Group started coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective for the company. Argus increased their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, BMO Capital Markets cut their price target on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Trading Up 2.3 %

NVO traded up $3.15 during trading hours on Thursday, reaching $137.57. The company’s stock had a trading volume of 2,915,297 shares, compared to its average volume of 4,513,568. The business’s 50-day moving average is $137.06 and its 200-day moving average is $130.54. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. The stock has a market cap of $617.35 billion, a PE ratio of 47.44, a P/E/G ratio of 1.33 and a beta of 0.41. Novo Nordisk A/S has a fifty-two week low of $86.96 and a fifty-two week high of $148.15.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 16th will be issued a $0.5126 dividend. The ex-dividend date is Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio is presently 25.52%.

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.