Accredited Investors Inc. Takes Position in Novo Nordisk A/S (NYSE:NVO)

Accredited Investors Inc. purchased a new stake in Novo Nordisk A/S (NYSE:NVO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,486 shares of the company’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NVO. Cravens & Co Advisors LLC lifted its holdings in Novo Nordisk A/S by 1.0% during the first quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock worth $1,059,000 after acquiring an additional 85 shares during the period. AA Financial Advisors LLC increased its position in Novo Nordisk A/S by 3.2% in the second quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock worth $400,000 after buying an additional 86 shares during the last quarter. Sage Rhino Capital LLC increased its position in Novo Nordisk A/S by 0.7% in the first quarter. Sage Rhino Capital LLC now owns 12,320 shares of the company’s stock worth $1,582,000 after buying an additional 89 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its position in Novo Nordisk A/S by 0.6% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 15,421 shares of the company’s stock worth $1,595,000 after buying an additional 90 shares during the last quarter. Finally, Essex LLC increased its position in Novo Nordisk A/S by 2.0% in the first quarter. Essex LLC now owns 4,684 shares of the company’s stock worth $601,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on NVO. The Goldman Sachs Group began coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price for the company. Argus boosted their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. BMO Capital Markets lowered their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday. Finally, StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $145.17.

Novo Nordisk A/S Stock Up 0.7 %

Shares of Novo Nordisk A/S stock traded up $0.88 during midday trading on Tuesday, hitting $136.13. The company had a trading volume of 152,754 shares, compared to its average volume of 4,453,613. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70. The stock has a market capitalization of $610.89 billion, a P/E ratio of 46.62, a P/E/G ratio of 1.33 and a beta of 0.41. The company has a 50 day moving average of $136.73 and a 200 day moving average of $131.12. Novo Nordisk A/S has a 52-week low of $86.96 and a 52-week high of $148.15.

Novo Nordisk A/S Cuts Dividend

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

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.