Eldred Rock Partners LLC Raises Stake in Novo Nordisk A/S (NYSE:NVO)

Eldred Rock Partners LLC raised its position in shares of Novo Nordisk A/S (NYSE:NVO) by 118.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 91,174 shares of the company’s stock after purchasing an additional 49,484 shares during the period. Novo Nordisk A/S accounts for approximately 3.6% of Eldred Rock Partners LLC’s portfolio, making the stock its 13th largest holding. Eldred Rock Partners LLC’s holdings in Novo Nordisk A/S were worth $10,856,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisor OS LLC lifted its position in shares of Novo Nordisk A/S by 0.6% during the second quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock worth $1,994,000 after acquiring an additional 82 shares in the last quarter. Cascade Financial Partners LLC boosted its stake in Novo Nordisk A/S by 2.3% in the 2nd quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock worth $543,000 after purchasing an additional 84 shares during the period. Cravens & Co Advisors LLC increased its position in shares of Novo Nordisk A/S by 1.0% during the first quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock valued at $1,059,000 after buying an additional 85 shares during the period. AA Financial Advisors LLC lifted its stake in Novo Nordisk A/S by 3.2% in the 2nd quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock worth $400,000 after purchasing an additional 86 shares in the last quarter. Finally, Steel Grove Capital Advisors LLC boosted its holdings in Novo Nordisk A/S by 2.3% in the 2nd quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock valued at $541,000 after purchasing an additional 86 shares during the period. Institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NVO shares. Argus upped their price target 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. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. BMO Capital Markets dropped their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price objective 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $145.17.

Novo Nordisk A/S Trading Up 0.0 %

Shares of NYSE:NVO traded up $0.04 on Friday, reaching $115.12. 6,310,401 shares of the company traded hands, compared to its average volume of 4,338,705. The business’s 50-day simple moving average is $130.59 and its 200 day simple moving average is $132.41. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a 52 week low of $87.02 and a 52 week high of $148.15. The stock has a market capitalization of $516.60 billion, a P/E ratio of 39.69, a price-to-earnings-growth ratio of 1.35 and a beta of 0.42.

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

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were issued a $0.5126 dividend. 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 presently 24.83%.

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.