Brookmont Capital Management Acquires 13,323 Shares of Novo Nordisk A/S (NYSE:NVO)

Brookmont Capital Management increased its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 30.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,632 shares of the company's stock after acquiring an additional 13,323 shares during the period. Novo Nordisk A/S comprises 2.3% of Brookmont Capital Management's investment portfolio, making the stock its 12th biggest holding. Brookmont Capital Management's holdings in Novo Nordisk A/S were worth $4,002,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. North Star Investment Management Corp. lifted its holdings in shares of Novo Nordisk A/S by 18.2% in the first quarter. North Star Investment Management Corp. now owns 20,742 shares of the company's stock valued at $1,440,000 after purchasing an additional 3,200 shares in the last quarter. Bank of New York Mellon Corp raised its position in Novo Nordisk A/S by 6.0% in the 1st quarter. Bank of New York Mellon Corp now owns 839,802 shares of the company's stock valued at $58,316,000 after buying an additional 47,804 shares during the last quarter. Stanley Laman Group Ltd. bought a new position in Novo Nordisk A/S during the 1st quarter valued at $390,000. Dover Advisors LLC purchased a new position in Novo Nordisk A/S during the 1st quarter worth $505,000. Finally, GAMMA Investing LLC boosted its holdings in Novo Nordisk A/S by 9.6% during the 1st quarter. GAMMA Investing LLC now owns 9,466 shares of the company's stock worth $657,000 after acquiring an additional 827 shares during the last quarter. Institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Stock Up 7.5%

NVO opened at $48.76 on Friday. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $139.74. The company's 50-day moving average price is $67.55 and its two-hundred day moving average price is $71.81. The stock has a market cap of $217.73 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 1.37 and a beta of 0.63. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 0.70.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly 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 84.92%. The company had revenue of $11.69 billion for the quarter, compared to analysts' expectations of $77.51 billion. As a group, equities analysts expect 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 declared a semi-annual dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th will be given a dividend of $0.4119 per share. This represents a dividend yield of 240.0%. The ex-dividend date of this dividend is Monday, August 18th. Novo Nordisk A/S's dividend payout ratio is currently 45.05%.

Analyst Ratings Changes

Several brokerages have recently commented on NVO. Wall Street Zen downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. HSBC downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price objective for the company. in a research report on Thursday, July 31st. Guggenheim cut shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. UBS Group downgraded Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research note on Tuesday. Finally, Dbs Bank lowered Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $93.67.

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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