Johnson Investment Counsel Inc. Purchases 4,511 Shares of Novo Nordisk A/S $NVO

Key Points

• Johnson Investment Counsel Inc. increased its position in Novo Nordisk A/S shares by 28.4%, acquiring an additional 4,511 shares and bringing its total holdings to 20,379 shares valued at approximately $1.4 million.
• Novo Nordisk A/S reported earnings per share of $0.97 for the quarter, exceeding expectations by $0.04 with a revenue of $11.69 billion.
• The company recently declared a semi-annual dividend of $0.4119 per share, reflecting a yield of 240.0%, indicating a strong commitment to returning value to its shareholders.

Johnson Investment Counsel Inc. raised its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 28.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,379 shares of the company's stock after purchasing an additional 4,511 shares during the period. Johnson Investment Counsel Inc.'s holdings in Novo Nordisk A/S were worth $1,407,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of NVO. Copeland Capital Management LLC raised its position 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 purchasing an additional 255 shares in the last quarter. North Capital Inc. bought a new stake in Novo Nordisk A/S during the 1st quarter valued at $27,000. Stone House Investment Management LLC bought a new stake in Novo Nordisk A/S during the 1st quarter valued at $30,000. Disciplina Capital Management LLC raised its position in Novo Nordisk A/S by 162.3% during the 1st quarter. Disciplina Capital Management LLC now owns 480 shares of the company's stock valued at $33,000 after purchasing an additional 297 shares in the last quarter. Finally, Spirit of America Management Corp NY bought a new stake in Novo Nordisk A/S during the 1st quarter valued at $35,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Trading Up 1.0%

Shares of NYSE:NVO opened at $57.51 on Tuesday. The business's 50-day moving average is $55.61 and its 200 day moving average is $63.03. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $120.47. The firm has a market capitalization of $256.76 billion, a P/E ratio of 15.80, a P/E/G ratio of 2.58 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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. On average, 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 declared a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were paid a dividend of $0.4119 per share. This represents a yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S's payout ratio is presently 22.53%.

Wall Street Analyst Weigh In

Several research firms have recently commented on NVO. Berenberg Bank raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Wednesday, September 17th. Barclays reissued an "equal weight" rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. HSBC set a $70.00 price target on Novo Nordisk A/S in a research report on Wednesday, October 1st. Weiss Ratings reissued a "hold (c-)" rating on shares of Novo Nordisk A/S in a research report on Saturday, September 27th. Finally, Sanford C. Bernstein raised Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a research report on Tuesday, September 9th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $77.50.

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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