Accredited Investors Inc. Invests $212,000 in Novo Nordisk A/S (NYSE:NVO)

Accredited Investors Inc. bought a new stake in Novo Nordisk A/S (NYSE:NVO) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 1,486 shares of the company’s stock, valued at approximately $212,000.

Several other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. increased its position in shares of Novo Nordisk A/S by 10.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 599,711 shares of the company’s stock valued at $85,603,000 after acquiring an additional 58,357 shares during the period. AAFMAA Wealth Management & Trust LLC increased its position in shares of Novo Nordisk A/S by 3.5% in the 2nd quarter. AAFMAA Wealth Management & Trust LLC now owns 10,850 shares of the company’s stock valued at $1,549,000 after acquiring an additional 370 shares during the period. Milestone Asset Management LLC acquired a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at $788,000. Means Investment CO. Inc. increased its position in shares of Novo Nordisk A/S by 24.0% in the 2nd quarter. Means Investment CO. Inc. now owns 49,070 shares of the company’s stock valued at $7,004,000 after acquiring an additional 9,488 shares during the period. Finally, Nisa Investment Advisors LLC acquired a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at $200,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on NVO shares. Argus upped 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Monday. The Goldman Sachs Group began coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target on the stock. Finally, BMO Capital Markets lowered 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 report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock traded up $0.88 during midday trading on Tuesday, reaching $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 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. Novo Nordisk A/S has a 12-month low of $86.96 and a 12-month high of $148.15. The firm’s fifty day simple moving average is $136.73 and its 200-day simple moving average is $131.12. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 16th will be paid a $0.5126 dividend. 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%.

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.