Sovran Advisors LLC Acquires 4,371 Shares of Novo Nordisk A/S $NVO

Key Points

• Sovran Advisors LLC increased its holdings in Novo Nordisk A/S by 12.0% in the second quarter, acquiring an additional 4,371 shares, bringing their total to 40,930 shares worth approximately $2.85 million.
• Analysts have mixed ratings for Novo Nordisk A/S, with six analysts giving a Buy rating, eleven a Hold rating, and one a Sell rating, reflecting diverse opinions on the stock's performance.
• The company's recent earnings report showed a net margin of 35.60% and a return on equity of 78.64%, exceeding analysts' expectations with reported EPS of $0.97.

Sovran Advisors LLC increased its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 12.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,930 shares of the company's stock after acquiring an additional 4,371 shares during the quarter. Sovran Advisors LLC's holdings in Novo Nordisk A/S were worth $2,850,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Sivia Capital Partners LLC increased its position in Novo Nordisk A/S by 18.2% during the second quarter. Sivia Capital Partners LLC now owns 10,320 shares of the company's stock worth $712,000 after acquiring an additional 1,587 shares during the period. Dynamic Advisor Solutions LLC increased its position in Novo Nordisk A/S by 29.0% during the second quarter. Dynamic Advisor Solutions LLC now owns 30,758 shares of the company's stock worth $2,123,000 after acquiring an additional 6,920 shares during the period. Eldred Rock Partners LLC increased its position in Novo Nordisk A/S by 72.0% during the second quarter. Eldred Rock Partners LLC now owns 165,219 shares of the company's stock worth $11,403,000 after acquiring an additional 69,184 shares during the period. Defined Wealth Management LLC increased its position in Novo Nordisk A/S by 12.1% during the second quarter. Defined Wealth Management LLC now owns 7,278 shares of the company's stock worth $502,000 after acquiring an additional 785 shares during the period. Finally, Stokes Capital Advisors LLC increased its position in Novo Nordisk A/S by 11.4% during the second quarter. Stokes Capital Advisors LLC now owns 69,729 shares of the company's stock worth $4,813,000 after acquiring an additional 7,127 shares during the period. 11.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

NVO has been the topic of a number of analyst reports. BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 price objective on the stock in a research note on Wednesday, August 13th. UBS Group downgraded shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research note on Tuesday, August 5th. TD Cowen reduced 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. Zacks Research downgraded shares of Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 20th. Finally, Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a research note on Tuesday, September 9th. Six analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of "Hold" and an average target price of $81.00.

Novo Nordisk A/S Stock Up 1.7%

NYSE:NVO opened at $58.20 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $135.20. The firm's 50 day simple moving average is $57.21 and its 200 day simple moving average is $65.81. The company has a market cap of $259.86 billion, a PE ratio of 15.99, a P/E/G ratio of 2.17 and a beta of 0.66.

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 firm had revenue of $11.69 billion for the quarter, compared to the consensus estimate of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. On average, research 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 company also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were given a $0.4119 dividend. The ex-dividend date was Monday, August 18th. This represents a dividend yield of 240.0%. 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.

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