Lockerman Financial Group Inc. Takes Position in Novo Nordisk A/S $NVO

Key Points

• Lockerman Financial Group Inc. acquired a new stake in Novo Nordisk A/S, purchasing 6,056 shares valued at approximately $418,000 during the second quarter.
• Several other large investors have also increased their positions in Novo Nordisk A/S, indicating a growing interest among institutional investors, who now own 11.54% of the company's stock.
• Analysts have varied opinions on the stock, with ratings ranging from Strong Buy to Sell, resulting in an average target price of $75.33.

Lockerman Financial Group Inc. purchased a new stake in Novo Nordisk A/S (NYSE:NVO - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,056 shares of the company's stock, valued at approximately $418,000.

A number of other large investors have also made changes to their positions in the company. First Hawaiian Bank increased its position in shares of Novo Nordisk A/S by 0.6% in the 1st quarter. First Hawaiian Bank now owns 22,401 shares of the company's stock valued at $1,556,000 after buying an additional 142 shares in the last quarter. Anchor Investment Management LLC increased its holdings in Novo Nordisk A/S by 1.1% during the 1st quarter. Anchor Investment Management LLC now owns 13,597 shares of the company's stock worth $944,000 after purchasing an additional 150 shares in the last quarter. Xponance Inc. increased its holdings in Novo Nordisk A/S by 5.0% during the 1st quarter. Xponance Inc. now owns 3,314 shares of the company's stock worth $230,000 after purchasing an additional 158 shares in the last quarter. Foster Dykema Cabot & Partners LLC increased its holdings in Novo Nordisk A/S by 3.8% during the 1st quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company's stock worth $319,000 after purchasing an additional 166 shares in the last quarter. Finally, 180 Wealth Advisors LLC increased its holdings in Novo Nordisk A/S by 3.6% during the 1st quarter. 180 Wealth Advisors LLC now owns 5,014 shares of the company's stock worth $348,000 after purchasing an additional 173 shares in the last quarter. Institutional investors own 11.54% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on NVO. Wall Street Zen cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Hsbc Global Res cut Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Dbs Bank upgraded Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a report on Friday, August 22nd. HSBC downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price target on the stock. in a research report on Thursday, July 31st. Finally, Berenberg Bank raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $75.33.

Novo Nordisk A/S Trading Down 0.2%

Shares of NVO stock opened at $55.52 on Tuesday. The firm has a 50 day moving average price of $55.84 and a two-hundred day moving average price of $64.23. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $247.90 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 2.11 and a beta of 0.66. Novo Nordisk A/S has a 12-month low of $45.05 and a 12-month high of $120.56.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating 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 company had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. As a group, analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were given 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 currently 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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