Brown Miller Wealth Management LLC Buys 2,264 Shares of Novo Nordisk A/S $NVO

Brown Miller Wealth Management LLC lifted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 19.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,658 shares of the company’s stock after purchasing an additional 2,264 shares during the period. Brown Miller Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $943,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Copeland Capital Management LLC lifted its stake in Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock valued at $27,000 after acquiring an additional 255 shares during the last quarter. North Capital Inc. bought a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at about $27,000. Stone House Investment Management LLC acquired a new stake in Novo Nordisk A/S in the 1st quarter valued at about $30,000. Disciplina Capital Management LLC grew its holdings in Novo Nordisk A/S by 162.3% during the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock worth $33,000 after purchasing an additional 297 shares during the period. Finally, Spirit of America Management Corp NY acquired a new position in Novo Nordisk A/S during the first quarter worth approximately $35,000. 11.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NVO has been the subject of a number of recent analyst reports. Barclays reaffirmed an “equal weight” rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. UBS Group cut Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a report on Tuesday, August 5th. HSBC set a $70.00 target price on Novo Nordisk A/S in a report on Wednesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Novo Nordisk A/S in a research note on Saturday, September 27th. Finally, BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price objective on the stock in a research note on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S has an average rating of “Moderate Buy” and a consensus target price of $77.50.

Novo Nordisk A/S Price Performance

Shares of NVO stock opened at $59.68 on Friday. The business has a fifty day simple moving average of $54.92 and a 200 day simple moving average of $63.73. The company has a market cap of $266.45 billion, a P/E ratio of 16.39, a P/E/G ratio of 2.28 and a beta of 0.68. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $120.56.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.93 by $0.04. The firm had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. On average, sell-side analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were paid a $0.4119 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio is presently 22.53%.

Novo Nordisk A/S 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.