NorthRock Partners LLC Takes Position in Novo Nordisk A/S $NVO

Key Points

• NorthRock Partners LLC has acquired a new stake in Novo Nordisk A/S, purchasing 4,870 shares valued at approximately $336,000.
• Institutional investors have significantly increased their holdings in Novo Nordisk, with Kingstone Capital Partners Texas LLC raising its ownership by over 301,000% in the second quarter.
• Novo Nordisk reported a quarterly earnings per share of $0.97, exceeding analysts' expectations and achieving a net margin of 35.60%.

NorthRock Partners LLC bought a new stake in Novo Nordisk A/S (NYSE:NVO - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,870 shares of the company's stock, valued at approximately $336,000.

A number of other institutional investors have also modified their holdings of the business. Kingstone Capital Partners Texas LLC increased its holdings in shares of Novo Nordisk A/S by 301,443.6% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company's stock valued at $690,560,000 after acquiring an additional 10,001,898 shares during the period. Folketrygdfondet increased its holdings in shares of Novo Nordisk A/S by 6.9% in the 1st quarter. Folketrygdfondet now owns 9,521,912 shares of the company's stock valued at $661,202,000 after acquiring an additional 617,974 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Novo Nordisk A/S by 11.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company's stock valued at $395,291,000 after acquiring an additional 576,900 shares during the period. Sustainable Growth Advisers LP increased its stake in Novo Nordisk A/S by 3.8% in the 1st quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company's stock valued at $384,923,000 after buying an additional 202,443 shares during the period. Finally, Nuveen LLC acquired a new position in Novo Nordisk A/S in the 1st quarter valued at $370,272,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $56.07 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $119.07. The stock has a market cap of $250.35 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 2.61 and a beta of 0.68. The firm's fifty day simple moving average is $56.17 and its 200-day simple moving average is $62.85.

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, topping 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 business had revenue of $11.69 billion for the quarter, compared to analysts' expectations 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 business also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were paid a dividend of $0.4119 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S's dividend payout ratio is 22.53%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Dbs Bank raised shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research note on Friday, August 22nd. BNP Paribas Exane raised shares of 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. 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. Barclays reissued an "equal weight" rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Finally, Berenberg Bank raised shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $76.00.

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.

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