True North Advisors LLC Increases Holdings in Novo Nordisk A/S (NYSE:NVO)

True North Advisors LLC raised its holdings in Novo Nordisk A/S (NYSE:NVO) by 4.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,080 shares of the company’s stock after purchasing an additional 225 shares during the quarter. True North Advisors LLC’s holdings in Novo Nordisk A/S were worth $605,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Bank of New Hampshire boosted its stake in shares of 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 during the last quarter. Cim LLC acquired a new position in shares of Novo Nordisk A/S in the 4th quarter valued at $23,547,000. Burford Brothers Inc. purchased a new stake in Novo Nordisk A/S during the fourth quarter worth $1,045,000. Fox Hill Wealth Management grew its position in Novo Nordisk A/S by 121.3% during the first quarter. Fox Hill Wealth Management now owns 28,320 shares of the company’s stock valued at $3,636,000 after buying an additional 15,525 shares during the period. Finally, Cetera Investment Advisers increased its holdings in Novo Nordisk A/S by 453.3% in the first quarter. Cetera Investment Advisers now owns 265,538 shares of the company’s stock valued at $34,095,000 after buying an additional 217,545 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

NVO stock opened at $116.79 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The business has a 50 day simple moving average of $130.15 and a 200-day simple moving average of $132.27. Novo Nordisk A/S has a 1 year low of $91.90 and a 1 year high of $148.15. The firm has a market capitalization of $524.10 billion, a PE ratio of 40.41, a price-to-earnings-growth ratio of 1.35 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates 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 anticipate that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were issued a $0.5126 dividend. The ex-dividend date was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.83%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets lowered their target price on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, September 16th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $145.17.

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.