Novo Nordisk A/S $NVO Shares Acquired by Meridian Investment Counsel Inc.

Key Points

• Meridian Investment Counsel Inc. increased its stake in Novo Nordisk A/S by 13.3% in Q2, owning 52,387 shares valued at approximately $3.6 million.
• Multiple analysts have recently issued ratings changes, with overall sentiment shifting to a consensus "Hold" rating and a price target of $81.00.
• The company reported earnings of $0.97 per share for the last quarter, surpassing expectations, with revenues reaching $11.69 billion.

Meridian Investment Counsel Inc. grew its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 13.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,387 shares of the company's stock after purchasing an additional 6,140 shares during the period. Novo Nordisk A/S makes up approximately 1.0% of Meridian Investment Counsel Inc.'s holdings, making the stock its 28th largest holding. Meridian Investment Counsel Inc.'s holdings in Novo Nordisk A/S were worth $3,616,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. First Hawaiian Bank lifted its position in Novo Nordisk A/S by 0.6% during the 1st quarter. First Hawaiian Bank now owns 22,401 shares of the company's stock worth $1,556,000 after acquiring an additional 142 shares in the last quarter. Anchor Investment Management LLC lifted its position 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 acquiring an additional 150 shares in the last quarter. Xponance Inc. lifted its position 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 acquiring an additional 158 shares in the last quarter. Foster Dykema Cabot & Partners LLC lifted its position 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 acquiring an additional 166 shares in the last quarter. Finally, 180 Wealth Advisors LLC lifted its position 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 acquiring an additional 173 shares in the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Dbs Bank raised Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research report on Friday, August 22nd. Wall Street Zen downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. HSBC downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price objective on the stock. in a report on Thursday, July 31st. Rothschild Redb upgraded Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 16th. Finally, Rothschild & Co Redburn upgraded Novo Nordisk A/S from a "neutral" rating to a "buy" rating in a report on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of "Hold" and a consensus price target of $81.00.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $55.61 on Friday. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $121.34. 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 capitalization of $248.30 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 2.12 and a beta of 0.66. The business has a 50 day simple moving average of $56.03 and a 200-day simple moving average of $64.53.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued 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 return on equity of 78.64% and a net margin of 35.60%.The business had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. As a group, equities research analysts expect 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 declared a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were issued a $0.4119 dividend. This represents a dividend yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S's payout ratio is 22.53%.

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.

Want to see what other hedge funds are holding NVO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Novo Nordisk A/S (NYSE:NVO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.