236,999 Shares in Novo Nordisk A/S $NVO Bought by Barlow Wealth Partners Inc.

Key Points

• Barlow Wealth Partners Inc. purchased 236,999 shares of Novo Nordisk A/S, amounting to approximately $16.5 million, making it the firm's 23rd largest holding.
• Novo Nordisk A/S reported better-than-expected earnings in its latest quarter, with $0.97 EPS surpassing the consensus estimate of $0.93.
• Analysts have shown a mix of sentiment, with some upgrades and downgrades, leading to a consensus target price of $76.00 for the stock.

Barlow Wealth Partners Inc. bought a new position in Novo Nordisk A/S (NYSE:NVO - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm bought 236,999 shares of the company's stock, valued at approximately $16,547,000. Novo Nordisk A/S makes up 2.0% of Barlow Wealth Partners Inc.'s investment portfolio, making the stock its 23rd largest holding.

A number of other large investors also recently modified their holdings of the company. Hourglass Capital LLC lifted its holdings in shares of Novo Nordisk A/S by 11.1% in the 2nd quarter. Hourglass Capital LLC now owns 23,130 shares of the company's stock worth $1,596,000 after purchasing an additional 2,310 shares in the last quarter. Werba Rubin Papier Wealth Management lifted its stake in Novo Nordisk A/S by 4.1% during the 2nd quarter. Werba Rubin Papier Wealth Management now owns 4,378 shares of the company's stock valued at $302,000 after acquiring an additional 173 shares in the last quarter. Turtle Creek Wealth Advisors LLC lifted its stake in Novo Nordisk A/S by 16.9% during the 2nd quarter. Turtle Creek Wealth Advisors LLC now owns 12,307 shares of the company's stock valued at $849,000 after acquiring an additional 1,775 shares in the last quarter. Alta Capital Management LLC lifted its stake in Novo Nordisk A/S by 6.6% during the 2nd quarter. Alta Capital Management LLC now owns 307,717 shares of the company's stock valued at $21,239,000 after acquiring an additional 19,130 shares in the last quarter. Finally, Mutual Advisors LLC lifted its stake in Novo Nordisk A/S by 19.7% during the 2nd quarter. Mutual Advisors LLC now owns 45,318 shares of the company's stock valued at $3,249,000 after acquiring an additional 7,469 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Trading Up 0.1%

Shares of NVO opened at $56.72 on Thursday. The business has a 50-day moving average of $56.03 and a 200 day moving average of $62.94. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $119.07. The firm has a market cap of $253.23 billion, a P/E ratio of 15.58, a price-to-earnings-growth ratio of 2.60 and a beta of 0.68. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. As a group, research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were issued 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 (DPR) is 22.53%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. BNP Paribas Exane upgraded 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. Weiss Ratings restated a "hold (c)" rating on shares of Novo Nordisk A/S in a research note on Tuesday. Rothschild Redb upgraded Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 16th. BNP Paribas upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research note on Wednesday, August 13th. Finally, Morgan Stanley cut Novo Nordisk A/S from an "overweight" rating to an "underweight" rating and lowered their target price for the stock from $59.00 to $47.00 in a research note on Monday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $76.00.

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.

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