Johnson Investment Counsel Inc. Boosts Stock Position in Novo Nordisk A/S $NVO

Johnson Investment Counsel Inc. raised its position in shares of Novo Nordisk A/S (NYSE:NVO) by 28.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,379 shares of the company’s stock after purchasing an additional 4,511 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Novo Nordisk A/S were worth $1,407,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Copeland Capital Management LLC grew its stake in Novo Nordisk A/S by 184.8% during the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock valued at $27,000 after purchasing an additional 255 shares during the last quarter. North Capital Inc. purchased a new stake in shares of Novo Nordisk A/S in the first quarter worth about $27,000. Stone House Investment Management LLC purchased a new stake in shares of Novo Nordisk A/S in the first quarter worth about $30,000. Disciplina Capital Management LLC boosted its stake in shares of Novo Nordisk A/S by 162.3% in the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock worth $33,000 after buying an additional 297 shares during the last quarter. Finally, Spirit of America Management Corp NY purchased a new stake in shares of Novo Nordisk A/S in the first quarter worth about $35,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

NVO has been the topic of a number of recent research reports. Sanford C. Bernstein upgraded Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 9th. Dbs Bank upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Friday, August 22nd. Rothschild Redb upgraded Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 16th. Hsbc Global Res upgraded Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Finally, Berenberg Bank upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. Two 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 assigned a Sell rating to the stock. According to MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and an average target price of $77.50.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $57.51 on Tuesday. The company has a market capitalization of $256.76 billion, a P/E ratio of 15.80, a P/E/G ratio of 2.58 and a beta of 0.68. The business’s 50 day moving average is $55.61 and its two-hundred day moving average is $63.03. 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 12-month low of $45.05 and a 12-month high of $120.47.

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

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were issued a dividend of $0.4119 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a dividend 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.