First Trust Direct Indexing L.P. Increases Holdings in Novo Nordisk A/S (NYSE:NVO)

First Trust Direct Indexing L.P. lifted its holdings in Novo Nordisk A/S (NYSE:NVO) by 1.7% during the third quarter, Holdings Channel reports. The fund owned 72,828 shares of the company’s stock after buying an additional 1,198 shares during the quarter. Novo Nordisk A/S makes up 0.5% of First Trust Direct Indexing L.P.’s holdings, making the stock its 29th largest holding. First Trust Direct Indexing L.P.’s holdings in Novo Nordisk A/S were worth $8,672,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NVO. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Novo Nordisk A/S during the 1st quarter valued at approximately $849,000. Miracle Mile Advisors LLC increased its holdings in Novo Nordisk A/S by 14.9% in the first quarter. Miracle Mile Advisors LLC now owns 5,001 shares of the company’s stock valued at $642,000 after buying an additional 649 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Novo Nordisk A/S by 12.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 313,291 shares of the company’s stock worth $40,227,000 after acquiring an additional 33,463 shares during the period. Lake Street Private Wealth LLC boosted its stake in shares of Novo Nordisk A/S by 6.4% during the 1st quarter. Lake Street Private Wealth LLC now owns 7,913 shares of the company’s stock worth $1,016,000 after acquiring an additional 473 shares in the last quarter. Finally, Massachusetts Wealth Management grew its position in shares of Novo Nordisk A/S by 18.7% during the 1st quarter. Massachusetts Wealth Management now owns 3,175 shares of the company’s stock valued at $408,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock traded up $1.56 during mid-day trading on Wednesday, reaching $113.54. 5,867,760 shares of the stock traded hands, compared to its average volume of 4,316,940. The business has a 50-day moving average of $125.68 and a 200 day moving average of $131.19. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $509.51 billion, a PE ratio of 38.16, a PEG ratio of 1.48 and a beta of 0.42. Novo Nordisk A/S has a fifty-two week low of $94.73 and a fifty-two week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. On average, analysts predict that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were given a dividend of $0.5126 per share. This represents a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s payout ratio is currently 24.66%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NVO shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Thursday, October 10th. BMO Capital Markets reduced their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $144.50.

About Novo Nordisk A/S

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.