Northstar Asset Management Inc. Increases Stock Position in Novo Nordisk A/S $NVO

Northstar Asset Management Inc. boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 14.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 169,557 shares of the company’s stock after buying an additional 21,181 shares during the quarter. Novo Nordisk A/S accounts for about 3.2% of Northstar Asset Management Inc.’s holdings, making the stock its 13th biggest holding. Northstar Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $11,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in NVO. Kingstone Capital Partners Texas LLC lifted its position in shares of Novo Nordisk A/S by 301,443.6% during the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock worth $690,560,000 after purchasing an additional 10,001,898 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Novo Nordisk A/S during the first quarter worth about $370,272,000. Amundi lifted its position in shares of Novo Nordisk A/S by 49.1% during the first quarter. Amundi now owns 4,938,507 shares of the company’s stock worth $331,576,000 after purchasing an additional 1,627,051 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Novo Nordisk A/S by 15,919.9% during the first quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock worth $72,523,000 after purchasing an additional 1,038,137 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Novo Nordisk A/S by 118.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,594,544 shares of the company’s stock worth $110,725,000 after purchasing an additional 864,579 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 0.4%

NVO stock opened at $53.02 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.56 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 $114.19. The company’s 50 day moving average is $56.56 and its two-hundred day moving average is $62.39. The stock has a market cap of $236.74 billion, a P/E ratio of 14.57, a PEG ratio of 2.42 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $11.69 billion for the quarter, compared to analysts’ expectations of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. Research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were given a dividend of $0.4119 per share. The ex-dividend date was Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio (DPR) is 22.53%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. TD Cowen reduced their price target on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, August 19th. Hsbc Global Res raised shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. BNP Paribas raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a report on Wednesday, August 13th. Wall Street Zen cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Dbs Bank raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Friday, August 22nd. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $76.00.

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.