Callan Family Office LLC Raises Stock Holdings in Novo Nordisk A/S $NVO

Key Points

• Callan Family Office LLC increased its holdings in Novo Nordisk A/S by 224.4% in the second quarter, now owning 108,592 shares valued at approximately $7.5 million.
• Recent analyst ratings show a positive outlook for Novo Nordisk, with upgrades from several firms and a consensus price target of $77.50.
• Despite a strong earnings report with an EPS of $0.97, Novo Nordisk recently cut its dividend, now yielding 240.0% with a payout ratio of 22.53%.

Callan Family Office LLC increased its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 224.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,592 shares of the company's stock after acquiring an additional 75,117 shares during the period. Callan Family Office LLC's holdings in Novo Nordisk A/S were worth $7,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of NVO. North Capital Inc. acquired a new position in Novo Nordisk A/S in the first quarter valued at approximately $27,000. Copeland Capital Management LLC lifted its stake in shares of Novo Nordisk A/S by 184.8% in the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after purchasing an additional 255 shares during the period. Stone House Investment Management LLC acquired a new position in shares of Novo Nordisk A/S in the 1st quarter valued at $30,000. Disciplina Capital Management LLC boosted its holdings in Novo Nordisk A/S by 162.3% during the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company's stock worth $33,000 after buying an additional 297 shares in the last quarter. Finally, Spirit of America Management Corp NY purchased a new stake in Novo Nordisk A/S during the first quarter worth $35,000. Hedge funds and other institutional investors own 11.54% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Weiss Ratings reissued a "hold (c-)" rating on shares of Novo Nordisk A/S in a report on Saturday, September 27th. Sanford C. Bernstein upgraded Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a research note on Tuesday, September 9th. 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 research note on Wednesday, August 13th. Hsbc Global Res upgraded Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 1st. Finally, Berenberg Bank upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $77.50.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock opened at $58.64 on Friday. The business has a 50 day simple moving average of $55.26 and a two-hundred day simple moving average of $63.33. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $120.56. The stock has a market capitalization of $261.83 billion, a P/E ratio of 16.11, a PEG ratio of 2.70 and a beta of 0.68. 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 (NYSE:NVO - Get Free Report) last announced its 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. 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 during the quarter, compared to analysts' expectations of $77.51 billion. As a group, analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

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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