Farther Finance Advisors LLC Boosts Holdings in Novo Nordisk A/S $NVO

Key Points

• Farther Finance Advisors LLC increased its stake in Novo Nordisk A/S by 48.7% in the 2nd quarter, acquiring 33,794 additional shares, raising its total holdings to over $7 million.
• Novo Nordisk A/S reported earnings of $0.97 per share, surpassing analysts' expectations, with a revenue of $11.69 billion for the quarter.
• Several hedge funds significantly boosted their positions in the company, with Kingstone Capital Partners increasing its stake by an impressive 301,443.6%.

Farther Finance Advisors LLC boosted its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 48.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,138 shares of the company's stock after acquiring an additional 33,794 shares during the period. Farther Finance Advisors LLC's holdings in Novo Nordisk A/S were worth $7,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of NVO. Copeland Capital Management LLC grew its position in Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after acquiring an additional 255 shares in the last quarter. North Capital Inc. acquired a new position in Novo Nordisk A/S in the 1st quarter valued at approximately $27,000. Park Square Financial Group LLC acquired a new position in Novo Nordisk A/S during the fourth quarter worth $29,000. Stone House Investment Management LLC bought a new stake in shares of Novo Nordisk A/S in the first quarter valued at about $30,000. Finally, Disciplina Capital Management LLC increased its holdings in shares of Novo Nordisk A/S by 162.3% during the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company's stock worth $33,000 after buying an additional 297 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NVO has been the topic of several recent analyst reports. TD Cowen lowered their price objective on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, August 19th. UBS Group lowered shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 5th. Sanford C. Bernstein raised shares of Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a research note on Tuesday, September 9th. Wall Street Zen lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, BNP Paribas raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $81.00.

Novo Nordisk A/S Stock Down 0.6%

Shares of Novo Nordisk A/S stock traded down $0.40 on Friday, hitting $61.45. 12,824,513 shares of the company's stock traded hands, compared to its average volume of 13,091,512. The firm's 50-day moving average is $56.88 and its 200 day moving average is $65.10. Novo Nordisk A/S has a 52-week low of $45.05 and a 52-week high of $129.48. The stock has a market cap of $274.37 billion, a P/E ratio of 16.88, a PEG ratio of 2.33 and a beta of 0.66. 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 (NYSE:NVO - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. The business 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%. Equities analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were issued a dividend of $0.4119 per share. 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 (DPR) 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.