BridgePort Financial Solutions LLC Acquires 5,488 Shares of Novo Nordisk A/S $NVO

Key Points

• BridgePort Financial Solutions LLC increased its holdings in Novo Nordisk A/S by 90.0%, acquiring an additional 5,488 shares during the second quarter, bringing its total to 11,583 shares valued at $799,000.
• Novo Nordisk A/S reported quarterly earnings of $0.97 per share, exceeding the consensus estimate of $0.93, and had revenues of $11.69 billion for the quarter.
• Several analysts have recently upgraded their ratings on Novo Nordisk A/S, with current recommendations ranging from Strong Buy to Hold, reflecting a generally positive outlook on the company's performance.

BridgePort Financial Solutions LLC boosted its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 90.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,583 shares of the company's stock after acquiring an additional 5,488 shares during the quarter. BridgePort Financial Solutions LLC's holdings in Novo Nordisk A/S were worth $799,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NVO. Revolve Wealth Partners LLC increased its stake in Novo Nordisk A/S by 8.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock worth $214,000 after acquiring an additional 200 shares during the last quarter. Rhumbline Advisers increased its position in shares of Novo Nordisk A/S by 10.2% during the 1st quarter. Rhumbline Advisers now owns 63,539 shares of the company's stock valued at $4,412,000 after purchasing an additional 5,898 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of Novo Nordisk A/S by 1.5% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 20,032 shares of the company's stock valued at $1,391,000 after purchasing an additional 290 shares during the last quarter. Beacon Financial Group increased its position in shares of Novo Nordisk A/S by 6.5% during the 1st quarter. Beacon Financial Group now owns 2,884 shares of the company's stock valued at $200,000 after purchasing an additional 177 shares during the last quarter. Finally, Foster Group Inc. bought a new position in shares of Novo Nordisk A/S during the 1st quarter valued at about $216,000. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Price Performance

NVO opened at $59.68 on Friday. The stock's 50 day simple moving average is $54.92 and its 200 day simple moving average is $63.73. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $120.56. The firm has a market cap of $266.45 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 2.28 and a beta of 0.68.

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

Novo Nordisk A/S Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Zacks Research upgraded Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research report on Monday, September 29th. 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 report on Wednesday, August 13th. TD Cowen reduced their price objective 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. Weiss Ratings reiterated a "hold (c-)" rating on shares of Novo Nordisk A/S in a research report on Saturday, September 27th. Finally, UBS Group lowered Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 5th. Two equities research 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 company. According to data from MarketBeat, Novo Nordisk A/S currently has an average rating of "Moderate Buy" and an average target price of $77.50.

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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