Novo Nordisk A/S $NVO Shares Bought by Stokes Capital Advisors LLC

Key Points

• Stokes Capital Advisors LLC increased its holdings in Novo Nordisk A/S by 11.4% in Q2, owning 69,729 shares valued at approximately $4.81 million.
• Analyst ratings for Novo Nordisk show mixed sentiments, with HSBC downgrading it to "hold" and others upgrading the stock, leading to an average rating of "hold" and a target price of $81.00.
• Novo Nordisk's latest earnings report revealed a stronger-than-expected EPS of $0.97, surpassing forecasts of $0.93, while it also declared a dividend yielding 240.0%.

Stokes Capital Advisors LLC grew its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 11.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 69,729 shares of the company's stock after purchasing an additional 7,127 shares during the quarter. Stokes Capital Advisors LLC's holdings in Novo Nordisk A/S were worth $4,813,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. First Hawaiian Bank increased its position in shares of Novo Nordisk A/S by 0.6% during the 1st quarter. First Hawaiian Bank now owns 22,401 shares of the company's stock valued at $1,556,000 after purchasing an additional 142 shares during the period. Anchor Investment Management LLC increased its position in shares of 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 valued at $944,000 after purchasing an additional 150 shares during the period. Xponance Inc. increased its position in shares of Novo Nordisk A/S by 5.0% during the 1st quarter. Xponance Inc. now owns 3,314 shares of the company's stock valued at $230,000 after purchasing an additional 158 shares during the period. Foster Dykema Cabot & Partners LLC increased its position in shares of 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 valued at $319,000 after purchasing an additional 166 shares during the period. Finally, 180 Wealth Advisors LLC increased its position in shares of 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 valued at $348,000 after purchasing an additional 173 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NVO shares. HSBC cut Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 target price on the stock. in a report on Thursday, July 31st. BNP Paribas upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a report on Wednesday, August 13th. Dbs Bank upgraded Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a report on Friday, August 22nd. Barclays restated an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Finally, Sanford C. Bernstein upgraded Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a report on Tuesday, September 9th. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $81.00.

Novo Nordisk A/S Price Performance

NVO opened at $57.19 on Wednesday. The stock has a market cap of $255.35 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 2.11 and a beta of 0.66. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $135.20. 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 stock has a fifty day moving average price of $57.44 and a 200 day moving average price of $65.86.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released 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. The firm had revenue of $11.69 billion during the quarter, compared to analysts' expectations of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Analysts forecast that Novo Nordisk A/S will post 3.84 EPS 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. Shareholders of record on Monday, August 18th were given 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 payout ratio is currently 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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