Raelipskie Partnership Acquires Shares of 12,618 Novo Nordisk A/S (NYSE:NVO)

Raelipskie Partnership acquired a new stake in Novo Nordisk A/S (NYSE:NVO) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 12,618 shares of the company’s stock, valued at approximately $1,801,000. Novo Nordisk A/S comprises about 1.0% of Raelipskie Partnership’s portfolio, making the stock its 25th largest position.

A number of other hedge funds also recently bought and sold shares of the business. First PREMIER Bank purchased a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at approximately $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at approximately $26,000. Orion Capital Management LLC purchased a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at approximately $26,000. Halpern Financial Inc. grew its stake in shares of Novo Nordisk A/S by 113.0% in the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after buying an additional 113 shares during the period. Finally, Riverview Trust Co purchased a new stake in shares of Novo Nordisk A/S in the 2nd quarter valued at approximately $35,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NVO. BMO Capital Markets lowered their price objective on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday, August 5th. 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. Finally, The Goldman Sachs Group began coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective for the company. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $145.17.

Novo Nordisk A/S Stock Down 1.6 %

NYSE:NVO traded down $2.16 during mid-day trading on Friday, hitting $134.89. The stock had a trading volume of 2,111,269 shares, compared to its average volume of 4,498,375. 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 twelve month low of $86.96 and a twelve month high of $148.15. The company has a market capitalization of $605.32 billion, a PE ratio of 46.51, a PEG ratio of 1.33 and a beta of 0.41. The stock has a 50-day simple moving average of $136.90 and a two-hundred day simple moving average of $130.87.

Novo Nordisk A/S Cuts Dividend

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