Golden State Equity Partners Acquires 11,983 Shares of Novo Nordisk A/S $NVO

Key Points

• Golden State Equity Partners dramatically increased its holdings in Novo Nordisk A/S by 383.0% in Q2, bringing its total to 15,112 shares valued at approximately $1,043,000.
• Wall Street analysts show a positive outlook for Novo Nordisk, with upgrades from firms like BNP Paribas and Rothschild & Co, leading to an average rating of "Hold" with a consensus target price of $81.00.
• Novo Nordisk A/S's recent financial performance beat earnings estimates with $0.97 EPS reported, and it declared a semi-annual dividend with a yield of 240.0% despite its dividend payout ratio of 22.53%.

Golden State Equity Partners increased its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 383.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,112 shares of the company's stock after purchasing an additional 11,983 shares during the period. Golden State Equity Partners' holdings in Novo Nordisk A/S were worth $1,043,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new position in shares of Novo Nordisk A/S in the fourth quarter worth $29,000. North Capital Inc. bought a new position in Novo Nordisk A/S during the first quarter valued at approximately $27,000. Copeland Capital Management LLC grew its holdings in Novo Nordisk A/S by 184.8% during the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after buying an additional 255 shares in the last quarter. Stone House Investment Management LLC bought a new stake in Novo Nordisk A/S in the 1st quarter worth approximately $30,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of Novo Nordisk A/S during the 4th quarter worth approximately $40,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. BNP Paribas raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research note on Wednesday, August 13th. Dbs Bank upgraded shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research report on Friday, August 22nd. Barclays reaffirmed an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. BNP Paribas Exane raised Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 price objective on the stock in a research note on Wednesday, August 13th. Finally, Rothschild & Co Redburn raised Novo Nordisk A/S from a "neutral" rating to a "buy" rating in a research note on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Novo Nordisk A/S currently has an average rating of "Hold" and a consensus target price of $81.00.

Novo Nordisk A/S Stock Down 0.6%

NYSE:NVO opened at $61.45 on Monday. 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 has a 1-year low of $45.05 and a 1-year high of $129.48. The company has a 50-day moving average of $56.88 and a 200 day moving average of $65.10. The firm has a market cap of $274.37 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 2.33 and a beta of 0.66.

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, beating the consensus estimate 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 analyst estimates of $77.51 billion. As a group, research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

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