Focus Financial Network Inc. Buys 3,885 Shares of Novo Nordisk A/S (NYSE:NVO)

Focus Financial Network Inc. lifted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 96.9% during the second quarter, HoldingsChannel reports. The firm owned 7,893 shares of the company’s stock after acquiring an additional 3,885 shares during the quarter. Focus Financial Network Inc.’s holdings in Novo Nordisk A/S were worth $1,069,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Novo Nordisk A/S by 2.8% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,551 shares of the company’s stock worth $1,195,000 after purchasing an additional 315 shares during the last quarter. Knights of Columbus Asset Advisors LLC increased its position in Novo Nordisk A/S by 99.8% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 2,142 shares of the company’s stock worth $222,000 after buying an additional 1,070 shares during the last quarter. abrdn plc bought a new stake in Novo Nordisk A/S in the fourth quarter valued at approximately $23,549,000. PSI Advisors LLC lifted its position in shares of Novo Nordisk A/S by 53.5% in the fourth quarter. PSI Advisors LLC now owns 307 shares of the company’s stock valued at $32,000 after buying an additional 107 shares during the last quarter. Finally, MCF Advisors LLC boosted its stake in shares of Novo Nordisk A/S by 5,850.0% during the 4th quarter. MCF Advisors LLC now owns 476 shares of the company’s stock worth $49,000 after acquiring an additional 468 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Up 0.4 %

Shares of NYSE NVO traded up $0.51 during trading on Tuesday, reaching $135.76. The company had a trading volume of 2,105,977 shares, compared to its average volume of 4,465,817. The company’s fifty day moving average price is $136.73 and its 200-day moving average price is $131.12. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17. The stock has a market cap of $609.23 billion, a P/E ratio of 46.67, a PEG ratio of 1.33 and a beta of 0.41. Novo Nordisk A/S has a 12 month low of $86.96 and a 12 month high of $148.15.

Novo Nordisk A/S Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NVO. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Monday. 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 objective on the stock. BMO Capital Markets decreased 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 note on Thursday, August 8th. Argus raised their price objective 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. Finally, StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.17.

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.