Ridgewood Investments LLC Raises Holdings in Novo Nordisk A/S $NVO

Key Points

• Ridgewood Investments LLC increased its stake in Novo Nordisk A/S by 205.4% during the 2nd quarter, bringing its total holdings to 6,627 shares valued at approximately $457,000.
• Novo Nordisk A/S reported a net margin of 35.60% and earnings per share of $0.97 for the last quarter, surpassing analysts' expectations.
• The company's stock experienced a 0.6% decline, with a current market capitalization of $274.37 billion, while analysts issued mixed ratings ranging from "Buy" to "Strong Sell."

Ridgewood Investments LLC raised its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 205.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 6,627 shares of the company's stock after purchasing an additional 4,457 shares during the quarter. Ridgewood Investments LLC's holdings in Novo Nordisk A/S were worth $457,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NVO. Kingstone Capital Partners Texas LLC grew its position in shares of Novo Nordisk A/S by 301,443.6% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company's stock worth $690,560,000 after buying an additional 10,001,898 shares during the period. Nuveen LLC purchased a new position in Novo Nordisk A/S during the 1st quarter valued at about $370,272,000. Amundi grew its holdings in shares of Novo Nordisk A/S by 49.1% during the first 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 in the last quarter. Acadian Asset Management LLC boosted its stake in Novo Nordisk A/S by 15,919.9% in the first quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company's stock worth $72,523,000 after buying an additional 1,038,137 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Novo Nordisk A/S by 118.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,594,544 shares of the company's stock valued at $110,725,000 after purchasing an additional 864,579 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Stock Performance

Shares of NVO traded down $0.70 during mid-day trading on Monday, reaching $60.70. The company had a trading volume of 10,729,184 shares, compared to its average volume of 13,091,512. The stock has a market capitalization of $271.03 billion, a P/E ratio of 16.68, a PEG ratio of 2.33 and a beta of 0.66. The stock has a 50 day moving average of $56.71 and a two-hundred day moving average of $64.92. 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 52-week low of $45.05 and a 52-week high of $127.61.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The company had revenue of $11.69 billion for the quarter, compared to the consensus estimate of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. On average, 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 announced a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were given 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 dividend payout ratio (DPR) is 22.53%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NVO shares. Rothschild & Co Redburn raised Novo Nordisk A/S from a "neutral" rating to a "buy" rating in a research note on Tuesday, September 16th. HSBC downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 target price on the stock. in a research note on Thursday, July 31st. Barclays reiterated an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. BNP Paribas Exane raised Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 price target for the company in a research note on Wednesday, August 13th. Finally, Hsbc Global Res lowered Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $81.00.

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.