Clifford Swan Investment Counsel LLC Acquires 84,043 Shares of Novo Nordisk A/S $NVO

Key Points

• Clifford Swan Investment Counsel LLC increased its stake in Novo Nordisk A/S by 44.3%, acquiring an additional 84,043 shares, bringing its total holdings to 273,715 shares valued at approximately $18.89 million.
• In the second quarter, Kingstone Capital Partners Texas LLC dramatically raised its holdings in Novo Nordisk A/S by 301,443.6%, now owning 10 million shares, worth around $690.56 million.
• Novo Nordisk A/S reported earnings of $0.97 per share for its latest quarter, surpassing analysts' expectations of $0.93, while its revenue reached $11.69 billion.

Clifford Swan Investment Counsel LLC increased its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 44.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 273,715 shares of the company's stock after purchasing an additional 84,043 shares during the period. Clifford Swan Investment Counsel LLC's holdings in Novo Nordisk A/S were worth $18,892,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kingstone Capital Partners Texas LLC raised its holdings in Novo Nordisk A/S by 301,443.6% in the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company's stock worth $690,560,000 after purchasing an additional 10,001,898 shares during the period. Folketrygdfondet increased its position in shares of Novo Nordisk A/S by 6.9% in the 1st quarter. Folketrygdfondet now owns 9,521,912 shares of the company's stock valued at $661,202,000 after buying an additional 617,974 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Novo Nordisk A/S by 11.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company's stock worth $395,291,000 after buying an additional 576,900 shares during the period. Sustainable Growth Advisers LP lifted its holdings in Novo Nordisk A/S by 3.8% during the first quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company's stock worth $384,923,000 after acquiring an additional 202,443 shares in the last quarter. Finally, Nuveen LLC bought a new position in Novo Nordisk A/S during the first quarter worth about $370,272,000. Institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Trading Down 2.6%

NVO opened at $53.37 on Thursday. The company's 50 day moving average is $56.51 and its 200-day moving average is $62.52. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $116.43. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The company has a market cap of $238.29 billion, a P/E ratio of 14.66, a PEG ratio of 2.49 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (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 78.64%. The business had revenue of $11.69 billion during the quarter, compared to analysts' expectations of $77.51 billion. Equities research analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Investors 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 (DPR) is 22.53%.

Wall Street Analysts Forecast Growth

NVO has been the topic of a number of research analyst reports. Berenberg Bank raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Wednesday, September 17th. BNP Paribas raised Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research note on Wednesday, August 13th. Wall Street Zen cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. BNP Paribas Exane raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 target price for the company in a research report on Wednesday, August 13th. Finally, Hsbc Global Res upgraded shares of Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 1st. Two investment 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 given a Sell rating to the stock. According to data from MarketBeat, Novo Nordisk A/S has an average rating of "Moderate Buy" and a consensus target price of $76.00.

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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