Summit Global Investments Boosts Stock Position in Novo Nordisk A/S (NYSE:NVO)

Summit Global Investments boosted its stake in Novo Nordisk A/S (NYSE:NVO) by 91.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 53,127 shares of the company’s stock after acquiring an additional 25,328 shares during the quarter. Summit Global Investments’ holdings in Novo Nordisk A/S were worth $7,583,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. First PREMIER Bank purchased a new position in Novo Nordisk A/S in the 1st quarter valued at about $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Novo Nordisk A/S during the 1st quarter worth approximately $26,000. Orion Capital Management LLC purchased a new stake in shares of Novo Nordisk A/S in the first quarter valued at approximately $26,000. Halpern Financial Inc. increased its holdings in shares of 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. Finally, Riverview Trust Co purchased a new position in Novo Nordisk A/S during the second quarter worth approximately $35,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Up 0.4 %

NVO traded up $0.51 during trading hours on Tuesday, hitting $135.76. 2,105,977 shares of the company’s stock were exchanged, compared to its average volume of 4,465,817. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17. Novo Nordisk A/S has a 12-month low of $86.96 and a 12-month high of $148.15. The firm has a market cap of $609.23 billion, a P/E ratio of 46.81, a price-to-earnings-growth ratio of 1.33 and a beta of 0.41. The firm has a 50 day moving average of $136.61 and a 200 day moving average of $131.28.

Novo Nordisk A/S Cuts Dividend

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

Wall Street Analyst Weigh In

NVO has been the topic of several recent analyst reports. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price on the stock. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Monday. BMO Capital Markets decreased their target price on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday. Finally, Argus increased 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. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and a consensus price target of $145.17.

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.