Ballentine Partners LLC Grows Holdings in Novo Nordisk A/S $NVO

Key Points

• Ballentine Partners LLC increased its stake in Novo Nordisk A/S by 23.6%, owning 35,629 shares valued at $2,459,000 after purchasing an additional 6,801 shares in the 2nd quarter.
• Several institutional investors significantly boosted their positions in Novo Nordisk, with Acadian Asset Management increasing its holdings by 15,919.9% during the 1st quarter.
• Novo Nordisk's stock fell 1.3% recently, with a market capitalization of $262.47 billion and an upcoming earnings per share estimation at 3.84 for the current fiscal year.

Ballentine Partners LLC increased its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 23.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 35,629 shares of the company's stock after buying an additional 6,801 shares during the period. Ballentine Partners LLC's holdings in Novo Nordisk A/S were worth $2,459,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Acadian Asset Management LLC boosted its holdings in shares of Novo Nordisk A/S by 15,919.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company's stock valued at $72,523,000 after buying an additional 1,038,137 shares during the period. Unified Investment Management acquired a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at about $692,000. Norden Group LLC boosted its holdings in shares of Novo Nordisk A/S by 216.3% in the 2nd quarter. Norden Group LLC now owns 96,332 shares of the company's stock valued at $6,649,000 after buying an additional 65,877 shares during the period. Farther Finance Advisors LLC lifted its position in Novo Nordisk A/S by 48.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 103,138 shares of the company's stock valued at $7,119,000 after purchasing an additional 33,794 shares during the last quarter. Finally, Ridgewood Investments LLC lifted its position in Novo Nordisk A/S by 205.4% in the 2nd quarter. Ridgewood Investments LLC now owns 6,627 shares of the company's stock valued at $457,000 after purchasing an additional 4,457 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Down 1.3%

NYSE NVO opened at $58.78 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The company's 50 day simple moving average is $56.39 and its 200 day simple moving average is $64.84. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $127.61. The company has a market capitalization of $262.47 billion, a P/E ratio of 16.15, a PEG ratio of 2.26 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The business had revenue of $11.69 billion for the quarter, compared to the consensus estimate of $77.51 billion. Equities 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. Investors of record on Monday, August 18th were issued a $0.4119 dividend. This represents a dividend yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S's payout ratio is presently 22.53%.

Analyst Ratings Changes

Several analysts recently weighed in on NVO shares. HSBC downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price objective on the stock. in a research report on Thursday, July 31st. Rothschild & Co Redburn upgraded shares of Novo Nordisk A/S from a "neutral" rating to a "buy" rating in a research report on Tuesday, September 16th. Berenberg Bank upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Wednesday, September 17th. Rothschild Redb upgraded shares of Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 16th. 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 report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $81.00.

About Novo Nordisk A/S

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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