North Star Investment Management Corp. Has $203,000 Position in Novo Nordisk A/S $NVO

Key Points

• North Star Investment Management Corp. reduced its stake in Novo Nordisk A/S by 85.8%, owning only 2,942 shares worth $203,000 by the end of the quarter.
• Acadian Asset Management LLC dramatically increased its holdings in Novo Nordisk A/S by 15,919.9%, now owning 1,044,658 shares valued at approximately $72.5 million.
• A quarterly earnings report revealed that Novo Nordisk A/S beat analysts' expectations with earnings of $0.97 per share, exceeding the forecast of $0.93.

North Star Investment Management Corp. reduced its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 85.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,942 shares of the company's stock after selling 17,800 shares during the period. North Star Investment Management Corp.'s holdings in Novo Nordisk A/S were worth $203,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Unified Investment Management bought a new stake in Novo Nordisk A/S in the 2nd quarter valued at about $692,000. Acadian Asset Management LLC boosted its holdings in Novo Nordisk A/S by 15,919.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company's stock valued at $72,523,000 after purchasing an additional 1,038,137 shares during the period. Norden Group LLC boosted its holdings in Novo Nordisk A/S by 216.3% in the 2nd quarter. Norden Group LLC now owns 96,332 shares of the company's stock valued at $6,649,000 after purchasing an additional 65,877 shares during the period. Farther Finance Advisors LLC boosted its holdings in Novo Nordisk A/S by 48.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 103,138 shares of the company's stock valued at $7,119,000 after purchasing an additional 33,794 shares during the period. Finally, Ridgewood Investments LLC boosted its holdings in Novo Nordisk A/S by 205.4% in the 2nd quarter. Ridgewood Investments LLC now owns 6,627 shares of the company's stock valued at $457,000 after purchasing an additional 4,457 shares during the period. Institutional investors and hedge funds own 11.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NVO. Rothschild Redb raised shares of Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 16th. Barclays reiterated an "equal weight" rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Wall Street Zen downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Hsbc Global Res downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Finally, Rothschild & Co Redburn upgraded shares of Novo Nordisk A/S from a "neutral" rating to a "buy" rating in a research note on Tuesday, September 16th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $81.00.

Novo Nordisk A/S Trading Down 4.5%

NVO opened at $56.07 on Friday. The company's 50 day moving average is $56.20 and its 200-day moving average is $64.68. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $125.62. 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 $250.35 billion, a P/E ratio of 15.40, a PEG ratio of 2.22 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 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 for the quarter, compared to the consensus estimate 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 firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were issued a $0.4119 dividend. This represents a yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S's dividend payout ratio (DPR) is 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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