Northstar Asset Management Inc. Has $10.30 Million Stock Position in Novo Nordisk A/S $NVO

Key Points

• Northstar Asset Management Inc. increased its holdings in Novo Nordisk A/S by 3.9% during the first quarter, acquiring an additional 5,619 shares, thus owning a total of 148,376 shares worth approximately $10.3 million.
• Analysts have recently varied their ratings on Novo Nordisk A/S, with some upgrading it to "neutral" and others downgrading to "hold", leading to an overall average rating of "Hold" with a consensus price target of $83.75.
• Novo Nordisk A/S recently reported earnings, posting $0.97 EPS for the quarter, exceeding expectations, alongside a semi-annual dividend announcement of $0.4119 per share.

Northstar Asset Management Inc. grew its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 148,376 shares of the company's stock after buying an additional 5,619 shares during the quarter. Novo Nordisk A/S accounts for 3.0% of Northstar Asset Management Inc.'s portfolio, making the stock its 12th largest position. Northstar Asset Management Inc.'s holdings in Novo Nordisk A/S were worth $10,303,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NVO. Copeland Capital Management LLC grew its stake in Novo Nordisk A/S by 184.8% during the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock worth $27,000 after buying an additional 255 shares during the period. North Capital Inc. purchased a new stake in Novo Nordisk A/S during the first quarter worth approximately $27,000. Park Square Financial Group LLC purchased a new position in shares of Novo Nordisk A/S in the fourth quarter valued at $29,000. Stone House Investment Management LLC purchased a new position in shares of Novo Nordisk A/S in the first quarter valued at $30,000. Finally, Transce3nd LLC acquired a new position in Novo Nordisk A/S during the 4th quarter worth $33,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock traded up $0.9920 during trading hours on Tuesday, hitting $54.7420. 25,876,045 shares of the company traded hands, compared to its average volume of 28,030,364. The firm has a market cap of $244.42 billion, a P/E ratio of 15.04, a P/E/G ratio of 1.84 and a beta of 0.63. 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 firm's 50-day simple moving average is $64.52 and its two-hundred day simple moving average is $70.02. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $139.74.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. The firm had revenue of $11.69 billion for the quarter, compared to analysts' expectations of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. As a group, analysts forecast 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 given a dividend of $0.4119 per share. The ex-dividend date is Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S's dividend payout ratio (DPR) is 22.53%.

Analysts Set New Price Targets

Several research analysts have weighed in on NVO shares. HSBC lowered 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. UBS Group cut shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday, August 5th. Wall Street Zen cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Barclays reissued an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Finally, TD Cowen dropped their target price on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating on the stock in a report on Tuesday. Three research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of "Hold" and a consensus price target of $81.00.

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.