Sterling Investment Management LLC Makes New Investment in Novo Nordisk A/S $NVO

Key Points

• Sterling Investment Management LLC invested approximately $956,000 in Novo Nordisk A/S by acquiring 13,844 shares during the second quarter, as reported in their recent SEC filing.
• Novo Nordisk A/S reported an earnings per share of $0.97 for the latest quarter, exceeding analysts' expectations, with a net margin of 35.60%.
• Several analysts have adjusted their ratings and price targets for Novo Nordisk A/S, with HSBC setting a target of $70.00 and BMO increasing theirs to $55.00.

Sterling Investment Management LLC bought a new position in Novo Nordisk A/S (NYSE:NVO - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 13,844 shares of the company's stock, valued at approximately $956,000.

A number of other institutional investors have also bought and sold shares of the business. Revolve Wealth Partners LLC increased its holdings in shares of Novo Nordisk A/S by 8.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock worth $214,000 after buying an additional 200 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Novo Nordisk A/S by 9.6% during the 1st quarter. GAMMA Investing LLC now owns 9,466 shares of the company's stock worth $657,000 after buying an additional 827 shares during the last quarter. Flagship Harbor Advisors LLC increased its holdings in shares of Novo Nordisk A/S by 13.1% during the 1st quarter. Flagship Harbor Advisors LLC now owns 14,135 shares of the company's stock worth $982,000 after buying an additional 1,636 shares during the last quarter. Gallagher Capital Advisors LLC increased its holdings in shares of Novo Nordisk A/S by 24.7% during the 1st quarter. Gallagher Capital Advisors LLC now owns 19,064 shares of the company's stock worth $1,324,000 after buying an additional 3,780 shares during the last quarter. Finally, Sava Infond d.o.o. increased its holdings in shares of Novo Nordisk A/S by 11.9% during the 1st quarter. Sava Infond d.o.o. now owns 20,700 shares of the company's stock worth $1,437,000 after buying an additional 2,200 shares during the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Down 1.7%

Shares of Novo Nordisk A/S stock opened at $54.77 on Wednesday. Novo Nordisk A/S has a 52-week low of $45.05 and a 52-week high of $116.65. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The company's 50-day simple moving average is $56.46 and its 200-day simple moving average is $62.58. The firm has a market cap of $244.55 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 2.53 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The company had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. As a group, equities 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 business also recently announced 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 was Monday, August 18th. Novo Nordisk A/S's dividend payout ratio is presently 22.53%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wall Street Zen downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. HSBC set a $70.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, October 1st. BMO Capital Markets reissued a "market perform" rating and issued a $55.00 price target (up from $50.00) on shares of Novo Nordisk A/S in a research report on Tuesday, October 14th. Barclays reaffirmed an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Finally, BNP Paribas Exane raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 target price for the company in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $76.00.

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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