Brookstone Capital Management Buys 7,848 Shares of Novo Nordisk A/S $NVO

Key Points

• Brookstone Capital Management increased its stake in Novo Nordisk A/S by 55.3% during the second quarter, purchasing an additional 7,848 shares, bringing its total holdings to 22,037 shares worth approximately $1.5 million.
• Novo Nordisk reported a quarterly earnings per share (EPS) of $0.97, surpassing analysts' estimates of $0.93, with revenue for the quarter at $11.69 billion.
• Analysts maintain a generally positive outlook on Novo Nordisk, with the stock receiving an average rating of "Moderate Buy" and a price target around $76.00.

Brookstone Capital Management increased its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 55.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,037 shares of the company's stock after purchasing an additional 7,848 shares during the period. Brookstone Capital Management's holdings in Novo Nordisk A/S were worth $1,521,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of NVO. Cullen Frost Bankers Inc. boosted its stake in Novo Nordisk A/S by 0.9% in the second quarter. Cullen Frost Bankers Inc. now owns 117,889 shares of the company's stock valued at $8,137,000 after buying an additional 1,060 shares in the last quarter. DecisionMap Wealth Management LLC grew its position in Novo Nordisk A/S by 14.3% in the second quarter. DecisionMap Wealth Management LLC now owns 8,418 shares of the company's stock valued at $581,000 after acquiring an additional 1,052 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Novo Nordisk A/S by 3.2% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 81,517 shares of the company's stock valued at $5,626,000 after acquiring an additional 2,533 shares during the last quarter. Whittier Trust Co. grew its position in Novo Nordisk A/S by 8.4% in the second quarter. Whittier Trust Co. now owns 66,181 shares of the company's stock valued at $4,568,000 after acquiring an additional 5,101 shares during the last quarter. Finally, Lafayette Investments Inc. grew its position in Novo Nordisk A/S by 579.4% in the second quarter. Lafayette Investments Inc. now owns 47,754 shares of the company's stock valued at $3,296,000 after acquiring an additional 40,725 shares during the last quarter. Institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $53.02 on Friday. The business's 50-day moving average price is $56.56 and its 200-day moving average price is $62.39. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $114.19. The firm has a market capitalization of $236.74 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 2.42 and a beta of 0.68. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. The firm had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Equities research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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

Wall Street Analysts Forecast Growth

NVO has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Novo Nordisk A/S in a research report on Tuesday, October 14th. TD Cowen decreased their target price 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. BNP Paribas Exane upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 target price on the stock in a research report on Wednesday, August 13th. BMO Capital Markets reiterated a "market perform" rating and issued a $55.00 target price (up previously from $50.00) on shares of Novo Nordisk A/S in a research report on Tuesday, October 14th. Finally, Hsbc Global Res raised Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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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