Tiedemann Advisors LLC Raises Holdings in Novo Nordisk A/S (NYSE:NVO)

Tiedemann Advisors LLC increased its position in Novo Nordisk A/S (NYSE:NVO) by 6.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,853 shares of the company’s stock after buying an additional 402 shares during the quarter. Tiedemann Advisors LLC’s holdings in Novo Nordisk A/S were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of NVO. Comerica Securities Inc. increased its holdings in Novo Nordisk A/S by 12.0% in the 4th quarter. Comerica Securities Inc. now owns 11,443 shares of the company’s stock valued at $527,000 after purchasing an additional 1,223 shares in the last quarter. Cornerstone Advisors Inc. increased its holdings in Novo Nordisk A/S by 33.6% in the 1st quarter. Cornerstone Advisors Inc. now owns 5,689 shares of the company’s stock valued at $298,000 after purchasing an additional 1,432 shares in the last quarter. Cetera Advisor Networks LLC increased its holdings in Novo Nordisk A/S by 4.5% in the 1st quarter. Cetera Advisor Networks LLC now owns 6,101 shares of the company’s stock valued at $320,000 after purchasing an additional 262 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Novo Nordisk A/S by 0.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 128,850 shares of the company’s stock valued at $6,740,000 after purchasing an additional 618 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in Novo Nordisk A/S by 28.8% in the 1st quarter. Global Retirement Partners LLC now owns 2,220 shares of the company’s stock valued at $116,000 after purchasing an additional 496 shares in the last quarter. 7.36% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently issued reports on NVO shares. Zacks Investment Research upgraded Novo Nordisk A/S from a “sell” rating to a “hold” rating and set a $50.00 price target for the company in a report on Monday, July 15th. Deutsche Bank downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $52.42 target price on the stock. in a report on Thursday, June 20th. Barclays upgraded shares of Novo Nordisk A/S from an “underweight” rating to an “equal weight” rating and set a $51.85 target price on the stock in a report on Tuesday, June 11th. Jefferies Financial Group downgraded shares of Novo Nordisk A/S from a “hold” rating to an “underperform” rating in a report on Friday, August 30th. Finally, Pareto Securities upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Novo Nordisk A/S currently has an average rating of “Hold” and a consensus price target of $159.65.

Shares of NVO stock traded down $0.17 during trading hours on Friday, reaching $49.50. 1,537,407 shares of the company were exchanged, compared to its average volume of 1,370,840. Novo Nordisk A/S has a fifty-two week low of $41.23 and a fifty-two week high of $53.55. The stock’s fifty day moving average is $50.81 and its two-hundred day moving average is $49.93. The company has a market cap of $117.62 billion, a price-to-earnings ratio of 19.64, a P/E/G ratio of 2.12 and a beta of 0.57. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.04 and a quick ratio of 0.73.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Friday, August 9th. The company reported $0.61 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.61. Novo Nordisk A/S had a net margin of 32.16% and a return on equity of 75.16%. The company had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.41 billion. On average, research analysts anticipate that Novo Nordisk A/S will post 2.43 earnings per share for the current year.

The business also recently announced a Semi-Annual dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th were given a dividend of $0.318 per share. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s payout ratio is 25.40%.

About Novo Nordisk A/S

Novo Nordisk A/S, a healthcare company, engages in the development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral anti-diabetic products, obesity, and other chronic diseases.

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Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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