Northstar Asset Management Inc. Buys 21,181 Shares of Novo Nordisk A/S $NVO

Key Points

• Northstar Asset Management Inc. increased its stake in Novo Nordisk A/S by 14.3% in Q2, acquiring an additional 21,181 shares, bringing its total holdings to 169,557 shares valued at approximately $11.7 million.
• Other institutional investors significantly raised their positions in Novo Nordisk, with Kingstone Capital Partners reporting an extraordinary 301,443.6% increase in their holdings during the same quarter.
• Novo Nordisk A/S's recent quarterly earnings beat expectations, posting earnings per share of $0.97, exceeding analyst predictions by $0.04.

Northstar Asset Management Inc. boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 14.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,557 shares of the company's stock after buying an additional 21,181 shares during the quarter. Novo Nordisk A/S makes up 3.2% of Northstar Asset Management Inc.'s portfolio, making the stock its 13th largest position. Northstar Asset Management Inc.'s holdings in Novo Nordisk A/S were worth $11,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC raised 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 purchasing an additional 10,001,898 shares in the last quarter. Nuveen LLC purchased a new stake in Novo Nordisk A/S during the 1st quarter worth approximately $370,272,000. Amundi grew its position in Novo Nordisk A/S by 49.1% during the 1st quarter. Amundi now owns 4,938,507 shares of the company's stock worth $331,576,000 after purchasing an additional 1,627,051 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of 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 acquiring an additional 1,038,137 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Novo Nordisk A/S by 118.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,594,544 shares of the company's stock valued at $110,725,000 after acquiring an additional 864,579 shares during the last quarter. Institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Trading Down 0.4%

Shares of NVO opened at $53.02 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a 12-month low of $45.05 and a 12-month high of $114.19. The firm has a 50-day moving average price of $56.56 and a 200 day moving average price of $62.39. The firm has a market capitalization of $236.74 billion, a P/E ratio of 14.57, a P/E/G ratio of 2.42 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) 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 firm had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. Sell-side analysts forecast that Novo Nordisk A/S will post 3.84 EPS 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. Investors of record on Monday, August 18th were issued a $0.4119 dividend. 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 currently 22.53%.

Analyst Ratings Changes

Several research firms recently issued reports on NVO. Dbs Bank upgraded shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research note on Friday, August 22nd. Morgan Stanley cut shares of Novo Nordisk A/S from an "overweight" rating to an "underweight" rating and reduced their price objective for the stock from $59.00 to $47.00 in a research report on Monday, September 29th. Weiss Ratings restated a "hold (c)" rating on shares of Novo Nordisk A/S in a research report on Tuesday, October 14th. Zacks Research upgraded shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research report on Monday, September 29th. Finally, BNP Paribas upgraded shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research report on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $76.00.

Novo Nordisk A/S 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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