Forum Financial Management LP Has $1.66 Million Stake in Novo Nordisk A/S $NVO

Forum Financial Management LP boosted its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 1.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,027 shares of the company’s stock after buying an additional 286 shares during the quarter. Forum Financial Management LP’s holdings in Novo Nordisk A/S were worth $1,658,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Sterling Investment Management LLC bought a new stake in Novo Nordisk A/S during the second quarter valued at about $956,000. Exencial Wealth Advisors LLC grew its position in Novo Nordisk A/S by 5.2% during the second quarter. Exencial Wealth Advisors LLC now owns 24,822 shares of the company’s stock worth $1,713,000 after buying an additional 1,221 shares in the last quarter. Brookstone Capital Management grew its position in Novo Nordisk A/S by 55.3% during the second quarter. Brookstone Capital Management now owns 22,037 shares of the company’s stock worth $1,521,000 after buying an additional 7,848 shares in the last quarter. Cullen Frost Bankers Inc. grew its position in Novo Nordisk A/S by 0.9% during the second quarter. Cullen Frost Bankers Inc. now owns 117,889 shares of the company’s stock worth $8,137,000 after buying an additional 1,060 shares in the last quarter. Finally, DecisionMap Wealth Management LLC grew its position in Novo Nordisk A/S by 14.3% during the second quarter. DecisionMap Wealth Management LLC now owns 8,418 shares of the company’s stock worth $581,000 after buying an additional 1,052 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Down 2.6%

NYSE NVO opened at $53.37 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average is $56.51 and its two-hundred day moving average is $62.52. The company has a market capitalization of $238.29 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 2.49 and a beta of 0.68. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $116.43.

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, beating analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $11.69 billion for 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%. Equities analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share 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. Stockholders of record on Monday, August 18th were paid a $0.4119 dividend. The ex-dividend date was Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S’s payout ratio is 22.53%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Novo Nordisk A/S in a research report on Tuesday, October 14th. Zacks Research raised Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Berenberg Bank raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. TD Cowen decreased their target price on 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. Finally, BNP Paribas raised Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research report on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.