Holderness Investments Co. Boosts Holdings in Novo Nordisk A/S (NYSE:NVO)

Holderness Investments Co. raised its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 6.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,503 shares of the company’s stock after buying an additional 1,056 shares during the period. Holderness Investments Co.’s holdings in Novo Nordisk A/S were worth $2,356,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its stake in shares of Novo Nordisk A/S by 38.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock worth $9,781,000 after purchasing an additional 26,067 shares in the last quarter. Bank of New Hampshire increased its position in Novo Nordisk A/S by 1,356.8% in the first quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock worth $1,702,000 after buying an additional 12,347 shares in the last quarter. Cim LLC purchased a new position in shares of Novo Nordisk A/S during the 4th quarter valued at about $23,547,000. Burford Brothers Inc. bought a new position in shares of Novo Nordisk A/S during the 4th quarter valued at approximately $1,045,000. Finally, Mark Asset Management LP purchased a new stake in Novo Nordisk A/S in the 4th quarter worth approximately $1,035,000. 11.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NVO shares. BMO Capital Markets lowered their price target on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Argus upped their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. The Goldman Sachs Group started coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target for the company. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, September 16th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $145.17.

Novo Nordisk A/S Trading Down 5.5 %

Shares of NVO stock opened at $127.51 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $572.21 billion, a price-to-earnings ratio of 43.97, a price-to-earnings-growth ratio of 1.48 and a beta of 0.42. Novo Nordisk A/S has a 12-month low of $86.96 and a 12-month high of $148.15. The stock’s 50-day moving average price is $133.13 and its 200-day moving average price is $133.26.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.06). The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. Equities research analysts predict that Novo Nordisk A/S will post 3.11 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were given a dividend of $0.5126 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 24.83%.

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.