Novo Nordisk A/S $NVO Shares Acquired by Brooklyn Investment Group

Key Points

• Brooklyn Investment Group increased its holdings in Novo Nordisk A/S by 391.9% during the 1st quarter, acquiring an additional 11,488 shares, bringing their total ownership to 14,419 shares valued at approximately $1 million.
• Novo Nordisk A/S announced quarterly earnings of $0.97 per share, exceeding analysts' expectations of $0.93, with total revenue reported at $11.69 billion.
• The company also declared a semi-annual dividend of $0.4119 per share, scheduled for payment on August 26th, resulting in a significant dividend yield of 240.0%.

Brooklyn Investment Group raised its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 391.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,419 shares of the company's stock after purchasing an additional 11,488 shares during the quarter. Brooklyn Investment Group's holdings in Novo Nordisk A/S were worth $1,001,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Corient IA LLC acquired a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at approximately $583,000. Northstar Asset Management Inc. lifted its position in shares of Novo Nordisk A/S by 3.9% during the 1st quarter. Northstar Asset Management Inc. now owns 148,376 shares of the company's stock valued at $10,303,000 after acquiring an additional 5,619 shares during the period. Knuff & Co LLC lifted its position in shares of Novo Nordisk A/S by 456.4% during the 1st quarter. Knuff & Co LLC now owns 83,866 shares of the company's stock valued at $5,824,000 after acquiring an additional 68,792 shares during the period. AR Asset Management Inc. acquired a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at approximately $729,000. Finally, Cresset Asset Management LLC lifted its position in shares of Novo Nordisk A/S by 5.7% during the 1st quarter. Cresset Asset Management LLC now owns 60,066 shares of the company's stock valued at $4,240,000 after acquiring an additional 3,230 shares during the period. Hedge funds and other institutional investors own 11.54% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NVO. TD Cowen cut their price objective on Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday. Hsbc Global Res downgraded Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. BNP Paribas Exane upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 price target for the company in a report on Wednesday, August 13th. Dbs Bank downgraded Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. Finally, UBS Group downgraded Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday, August 5th. Three equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $81.00.

Novo Nordisk A/S Stock Up 1.8%

Novo Nordisk A/S stock traded up $0.9920 during trading on Tuesday, reaching $54.7420. 25,876,045 shares of the company's stock were exchanged, compared to its average volume of 28,030,364. The company's 50-day moving average is $64.52 and its two-hundred day moving average is $70.02. 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 has a 52-week low of $45.05 and a 52-week high of $139.74. The firm has a market cap of $244.42 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.84 and a beta of 0.63.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share 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 firm had revenue of $11.69 billion during the quarter, compared to analysts' expectations of $77.51 billion. On average, 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 company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th will be given a $0.4119 dividend. This represents a yield of 240.0%. The ex-dividend date of this dividend is Monday, August 18th. 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.