Kovitz Investment Group Partners LLC Purchases 5,194 Shares of Novo Nordisk A/S (NYSE:NVO)

Kovitz Investment Group Partners LLC lifted its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 7.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 74,182 shares of the company's stock after purchasing an additional 5,194 shares during the period. Kovitz Investment Group Partners LLC's holdings in Novo Nordisk A/S were worth $5,151,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in NVO. Revolve Wealth Partners LLC lifted its position in shares of Novo Nordisk A/S by 8.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock valued at $214,000 after purchasing an additional 200 shares in the last quarter. Capital International Sarl lifted its position in shares of Novo Nordisk A/S by 2.6% during the fourth quarter. Capital International Sarl now owns 31,634 shares of the company's stock valued at $2,721,000 after purchasing an additional 809 shares in the last quarter. Capital International Ltd. CA increased its holdings in Novo Nordisk A/S by 15.6% during the fourth quarter. Capital International Ltd. CA now owns 28,528 shares of the company's stock worth $2,454,000 after buying an additional 3,856 shares during the last quarter. GeoWealth Management LLC increased its holdings in Novo Nordisk A/S by 7.8% during the fourth quarter. GeoWealth Management LLC now owns 16,135 shares of the company's stock worth $1,388,000 after buying an additional 1,168 shares during the last quarter. Finally, Forum Financial Management LP increased its holdings in Novo Nordisk A/S by 0.9% during the fourth quarter. Forum Financial Management LP now owns 23,897 shares of the company's stock worth $2,056,000 after buying an additional 219 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

NVO has been the subject of a number of research analyst reports. UBS Group downgraded shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday, August 5th. Hsbc Global Res downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. HSBC downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price objective for the company. in a report on Thursday, July 31st. Barclays restated an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Finally, BNP Paribas Exane upgraded 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 note on Wednesday. One analyst has rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Novo Nordisk A/S currently has an average rating of "Hold" and an average price target of $83.75.

Novo Nordisk A/S Trading Up 2.9%

Shares of Novo Nordisk A/S stock opened at $52.43 on Friday. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $139.74. The firm has a market cap of $234.10 billion, a PE ratio of 14.40, a PEG ratio of 1.80 and a beta of 0.63. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The company has a 50 day simple moving average of $64.96 and a two-hundred day simple moving average of $70.34.

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 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. Analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th will be issued a $0.4119 dividend. This represents a dividend yield of 240.0%. The ex-dividend date is Monday, August 18th. Novo Nordisk A/S's payout ratio is presently 22.53%.

Novo Nordisk A/S Company 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.

Want to see what other hedge funds are holding NVO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novo Nordisk A/S (NYSE:NVO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.