Talbot Financial LLC Boosts Stock Holdings in Novo Nordisk A/S $NVO

Key Points

• Talbot Financial LLC increased its holdings in Novo Nordisk A/S by 22.7% in Q2, owning 124,973 shares worth $8.6 million, highlighting investor confidence in the company.
• HSBC and Rothschild Redb upgraded Novo Nordisk's stock rating, indicating a bullish sentiment as the consensus target price for the stock is set at $77.50.
• Novo Nordisk reported earnings of $0.97 per share for the last quarter, exceeding expectations, and maintains a strong net margin of 35.60% with a return on equity of 78.64%.

Talbot Financial LLC lifted its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 22.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 124,973 shares of the company's stock after purchasing an additional 23,133 shares during the period. Talbot Financial LLC's holdings in Novo Nordisk A/S were worth $8,626,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NVO. Revolve Wealth Partners LLC boosted its holdings in shares of Novo Nordisk A/S by 8.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock worth $214,000 after purchasing an additional 200 shares during the period. Rhumbline Advisers boosted its holdings in shares of Novo Nordisk A/S by 10.2% during the first quarter. Rhumbline Advisers now owns 63,539 shares of the company's stock worth $4,412,000 after purchasing an additional 5,898 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Novo Nordisk A/S by 1.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 20,032 shares of the company's stock worth $1,391,000 after purchasing an additional 290 shares during the period. Beacon Financial Group boosted its holdings in shares of Novo Nordisk A/S by 6.5% during the first quarter. Beacon Financial Group now owns 2,884 shares of the company's stock worth $200,000 after purchasing an additional 177 shares during the period. Finally, Foster Group Inc. purchased a new stake in shares of Novo Nordisk A/S during the first quarter worth about $216,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVO has been the subject of a number of analyst reports. HSBC set a $70.00 target price on shares of Novo Nordisk A/S in a report on Wednesday. Rothschild Redb upgraded shares of Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 16th. Hsbc Global Res upgraded shares of Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a report on Wednesday. Dbs Bank upgraded shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a report on Friday, August 22nd. Finally, 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 for the company in a report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of "Moderate Buy" and a consensus target price of $77.50.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $59.68 on Friday. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $120.56. The company has a 50 day simple moving average of $54.92 and a two-hundred day simple moving average of $63.73. The company has a market capitalization of $266.45 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 2.28 and a beta of 0.68. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78.

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 analysts' consensus estimates 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 business had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. Analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were paid 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%.

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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