Traynor Capital Management Inc. raised its position in shares of Novo Nordisk A/S (NYSE:NVO) by 7.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,928 shares of the company’s stock after buying an additional 4,432 shares during the period. Novo Nordisk A/S makes up approximately 1.2% of Traynor Capital Management Inc.’s holdings, making the stock its 15th largest position. Traynor Capital Management Inc.’s holdings in Novo Nordisk A/S were worth $2,530,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. BTC Capital Management Inc. acquired a new stake in shares of Novo Nordisk A/S during the second quarter worth approximately $221,000. Wetherby Asset Management Inc. boosted its stake in shares of Novo Nordisk A/S by 8.6% in the second quarter. Wetherby Asset Management Inc. now owns 30,664 shares of the company’s stock worth $1,315,000 after buying an additional 2,425 shares in the last quarter. Cabot Wealth Management Inc. boosted its stake in shares of Novo Nordisk A/S by 2.3% in the second quarter. Cabot Wealth Management Inc. now owns 111,163 shares of the company’s stock worth $4,768,000 after buying an additional 2,507 shares in the last quarter. Legacy Capital Partners Inc. acquired a new stake in shares of Novo Nordisk A/S during the second quarter worth approximately $211,000. Finally, Global X Management Co. LLC boosted its stake in shares of Novo Nordisk A/S by 2.9% in the second quarter. Global X Management Co. LLC now owns 106,331 shares of the company’s stock worth $4,561,000 after buying an additional 3,034 shares in the last quarter. 6.40% of the stock is owned by institutional investors and hedge funds.
Shares of Novo Nordisk A/S (NYSE:NVO) traded up 3.65% during mid-day trading on Friday, hitting $45.76. 421,467 shares of the stock were exchanged. The stock’s 50-day moving average price is $42.69 and its 200-day moving average price is $38.73. Novo Nordisk A/S has a 52-week low of $30.89 and a 52-week high of $47.98. The company has a market cap of $113.56 billion, a P/E ratio of 18.72 and a beta of 0.63.
The company also recently announced an annual dividend, which will be paid on Tuesday, August 29th. Investors of record on Monday, August 21st will be paid a $0.336 dividend. This is a boost from Novo Nordisk A/S’s previous annual dividend of $0.33. This represents a dividend yield of 1.07%. The ex-dividend date is Friday, August 18th. Novo Nordisk A/S’s payout ratio is currently 35.84%.
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A number of brokerages have commented on NVO. BidaskClub cut shares of Novo Nordisk A/S from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, TheStreet raised shares of Novo Nordisk A/S from a “c+” rating to a “b-” rating in a report on Tuesday, May 2nd. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $53.00.
About Novo Nordisk A/S
Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company’s diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs.
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