Puzo Michael J Grows Stake in Novo Nordisk A/S $NVO

Key Points

• Puzo Michael J increased its stake in Novo Nordisk A/S by 79.0%, owning 43,933 shares worth $3,032,000 after acquiring additional shares in the second quarter.
• Several hedge funds made significant adjustments to their holdings in Novo Nordisk, including Kingstone Capital Partners increasing its stake by an astounding 301,443.6%.
• Novo Nordisk A/S reported earnings per share of $0.97 for the quarter, exceeding analysts' estimates, and announced a recent semi-annual dividend of $0.4119 per share.

Puzo Michael J grew its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 79.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 43,933 shares of the company's stock after acquiring an additional 19,383 shares during the quarter. Puzo Michael J's holdings in Novo Nordisk A/S were worth $3,032,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Kingstone Capital Partners Texas LLC increased 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 acquiring an additional 10,001,898 shares during the last quarter. Folketrygdfondet increased its holdings in shares of Novo Nordisk A/S by 6.9% in the 1st quarter. Folketrygdfondet now owns 9,521,912 shares of the company's stock valued at $661,202,000 after acquiring an additional 617,974 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Novo Nordisk A/S by 11.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company's stock valued at $395,291,000 after acquiring an additional 576,900 shares during the last quarter. Sustainable Growth Advisers LP increased its holdings in shares of Novo Nordisk A/S by 3.8% in the 1st quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company's stock valued at $384,923,000 after acquiring an additional 202,443 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Novo Nordisk A/S in the 1st quarter valued at about $370,272,000. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Stock Down 0.9%

Novo Nordisk A/S stock opened at $59.10 on Wednesday. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $120.56. The stock has a 50 day moving average of $54.84 and a two-hundred day moving average of $63.48. 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 market capitalization of $263.90 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 2.66 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping 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 company had revenue of $11.69 billion during the quarter, compared to analysts' expectations of $77.51 billion. As a group, 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 business also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were given a dividend of $0.4119 per share. This represents a yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S's dividend payout ratio (DPR) is presently 22.53%.

Analysts Set New Price Targets

A number of research firms have recently commented on NVO. Hsbc Global Res upgraded Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 1st. Berenberg Bank upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Wednesday, September 17th. Rothschild & Co Redburn upgraded Novo Nordisk A/S from a "neutral" rating to a "buy" rating in a research note on Tuesday, September 16th. Rothschild Redb upgraded Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 16th. Finally, HSBC set a $70.00 price target on Novo Nordisk A/S in a research note on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $77.50.

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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